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28 September 2021 The on-line newspaper devoted to the world of transports 10:05 GMT+2

August 20, 2021

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Original news
Unprecedented half-year results for Orient Overseas (International) Ltd.

The company filed the first half of 2021 with a net profit of $2.81 billion (+2,651.5%)

In the first half of this year, a period in which loads containerized transported by their fleet have registered a increase of +19.5% on the first half of 2020 ( of the 7 July 2021), Orient Overseas (International) Ltd. (OOIL), Hong Kong company operating in the transport sector maritime containerized through the Orient Overseas brand Container Line (OOCL) and belongs to the public shipping group Chinese COSCO Shipping, achieved record financial performance.

In fact, revenues reached the unprecedented value of 6.99 billion dollars, with a significant increase of +103.7% on the first half of last year and an increase of 2.23 billions compared to the previous record set in the second half of the year of 2020. Operating costs, while totaling a sharp increase in the +22.2% having been equal to 3.67 billion dollars, were however lower than the record of $4.43 billion in the second quarter of 2007. EBITDA and operating profit achieved also record values having stood at 3.11 respectively billion dollars (+713.4%) and 2.85 billion dollars (+1,741.1%) and so was the net profit of 2.81 billion dollars, up +2,651.5% compared to 101.2 millions in the first six months of 2020.

OOIL believes that the growth trend of results will continue in the coming months. Noting that the gross domestic product of the USA has already returned above pandemic levels and which, more importantly, retail inventories are at an all-time low, Hong Kong society has highlighted that this means that in the United States, which is the primary market for OOIL, there is a continuous need a high level of imports necessary to meet the national application.

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