OOCL’s parent company, Orient Overseas (International) Ltd (OOIL), returned to the black last year, posting a net profit of $138m after a loss of $219m in 2016.
OOIL published what is expected to be its last full-year results ahead of the $6bn acquisition of the carrier by Chinese state-owned Cosco Shipping and Shanghai International Port Group (SIPG).
Turnover at the Hong Kong-based group leaped by 15.1% year on year, to $6.1bn, with OOCL’s revenue up 15.4% …
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Source: The Loadstar