• 2020 March 25 10:29

    OOIL records net profit for 2019 of US$1.3 billion

    On 23 March, OOIL announced 2019 annual results, the company said in its release. The net profit attributable to shareholders was US$1.3 billion, and if excluding the one-off gain from the sale of its interests in the Long Beach Container Terminal, the recurring net profit for the year reached US$195 million, up by 80% as compared with the US$108 million in 2018.

    In 2019, global economic growth continued to be relatively low, and escalating trade frictions gave rise to uncertainty throughout the year. In this context, OOCL strengthened coordination with COSCO SHIPPING Lines and achieved significant synergies with the implementation of dual-brand strategy. The total synergies realized in 2019 exceeded the target set at the beginning of the year. These highly tangible synergy benefits, achieved through effective network planning, equipment management, joint procurement and co-operation in IT, became one of the key factors for the company to achieve outstanding performance.

    In 2019, OOCL maintained steady growth of business volume and fleet capacity, with total cargo volume growing by 3.8% and total revenue growing by 4.7%. As at the end of 2019, OOCL operated a fleet of 104 vessels or 733,580 TEUs, representing a growth of 4.6% as compared with the total capacity at the end of 2018. OOCL will continue this steady growth, and it is in this context that the company has decided to implement the ship renewal plan that was made five years ago and ordered five new building vessels. These are the first vessels to be ordered by the OOIL group since 2015. Not only will these modern, efficient vessels improve its cost structure, fill the capacity gap caused by the reduced chartered capacity after expiry in the future and further improve the company’s environmental protection and green operation level, and they also serve as clear evidence of the entire group’s continuing commitment to the very successful dual brand strategy.

     




2020 April 8

18:36 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea and East Med to the Middle East Gulf & Red Sea
18:06 The Maritime Union of Australia condemn Government for treatment of cruise ship crews
17:36 Estimated March imports at major U.S. retail container ports hit five-year low, declines expected to continue amid pandemic
17:05 PD Ports continues investment in environmentally sustainable technology
16:36 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to Far East
16:35 SCHOTTEL EcoPeller deployed in modernization project for first time
16:13 Port of Tallinn reports its 2020 Q1 passenger and cargo flows
16:05 Gimi receives force majeure claim for FLNG from BP Mauritania
15:44 Allseas wins removal contract for multiple North Sea installations
15:40 KMG Inseneriehituse AS to build bridge for Port of Tallinn
15:04 THE Alliance announces COVID-19 response measures for May and June 2020
14:36 Vyborg Shipyard holds steel cutting ceremony for trawler of Project KMT02
14:02 The Kings of Spain check the maintenance of the supply chain in the port of Valencia
13:43 Lotos shipyard to build four dredgers for Russia’s inland water ways
13:21 Port Kolomna signs agreement with RF Ministry of Industry and Trade for ship srapping grant
13:02 North Carolina Ports completes Turning Basin Expansion Project at the Port of Wilmington
12:42 Shipping credit outlook revised to negative: cash crunch worsens as Covid-19 disrupts trade
12:05 Inland terminals at the Port of Hamburg hit by the corona crises differently
11:30 IAPH Tokyo secretariat transited to remote work from home
11:05 SAFEEN acquires its largest service vessel to date
11:02 BC Ferries adjusted service levels due to Covid-19 pandemic
10:39 ABB increases remote support for ships to help customers during the COVID-19 outbreak
10:38 Port of Gdansk actively supports fight against coronavirus
10:16 Tallink Grupp’s vessels Megastar, Galaxy and Baltic Princess suspend passenger transport to Finland
09:53 MABUX: Bunker market this morning, Apr 08
09:40 Bunker prices start going up at the port of Saint-Petersburg, Russia
09:19 Baltic Dry Index is down to 596 points
08:47 Golden Ocean announces appointment of Ulrik Uhrenfeldt Andersen as CEO

2020 April 7

18:38 RF Government makes big decision to quit transshipment of NOVATEK’s LNG in Norway
17:27 BashVolgotanker opens navigation with first tanker leaving Samara for Kavkaz
17:03 IADC moves its seminar and course to 2nd half of 2020
16:49 RF Navy’s oceanographic research vessel "Admiral Vladimirsky" arrived in the Durville Sea
16:05 ECSA and ETF launch joint project WESS
15:51 Bunker prices are flat at the Far East ports of Russia (graph)
15:43 Port of Rotterdam adds Boxinsider to Portbase
15:28 Dredging works at LNG terminal in Klaipeda Seaport completed ahead of schedule
15:04 VTT to assess bio- and waste-based oils suitable for power plants and ships
14:43 Nordic Investment Bank is sponsoring expansion of Klaipeda Seaport
14:20 AET and TOTAL agree time charter for two LNG dual-fuel VLCCs
13:52 Rosmorport changed tariffs on crew boats services rendered in seaports of Eysk and Temryuk
13:29 Krasnoye Sormovo shipyard introduced short-time operation till 30 April 2020
12:54 Rosmorport announces tender to reconstruct coastal facilities of Vanino-Kholmsk ferry service
12:26 Rosmorport announces tender to build and reconstruct port infrastructure in Nikolskoye settlement
11:47 Hydrographic vessel of RF Navy’s Pacific Fleet continues its long-distance cruise to Antarctica
11:09 Hurtigruten temporarily suspends operations
10:25 Brent Crude futures price is up 3% to $34.04, Light Sweet Crude – up 3.53% to $27
10:08 Stena Line to furlough 600 employees and make 150 redundant in UK and the Republic of Ireland due to COVID-19
09:53 Extraordinary security measures undertaken by PORT FLEET operating in Big Port St. Petersburg
09:34 Nuclear-powered container carrier Sevmorput unloaded cargo for Arctic LNG 2 project
09:16 Baltic Dry Index is down to 604 points
09:02 Austria's overseas traffic via Hamburg remains stable
08:46 MABUX: Bunker market this morning, Apr 07
08:19 LR chosen for LNG Canada export terminal project in Kitimat

2020 April 6

18:37 Okeanis Eco Tankers announces three year VLCC time charter
18:06 Bureau Veritas helps to manage risk thanks to digitalized inspection services
17:45 Turnover of DeloPorts terminals in January-March of 2020 reached 2.6 mln tonnes, up 44% YoY
17:39 The production of Tallink’s new car and passenger ferry MyStar has started at Rauma shipyard
17:12 Maersk Container Industry signs first Star Cool milestone contract with Evergreen
17:06 Lloyd’s Register completes six-day, three-person audit for marine and offshore component and equipment business Whittaker Engineering
16:30 8,800 cbm of material dredged in Korsakov seaport