© Ein Dahmer (CC BY-SA 4.0)

A record year

OOCL, revenues up 110% in 2021

by Port News Editorial Staff

OOCL closed its fourth 2021 quarter  with revenues more than doubling from the same period of the previous year, from $2.4 billion to $4.8 billion.

Despite throughput  volumes dropping by 16.9 percent overall, to 1.85 million TEUs last year, the shipping company reported huge profits.

Congestion issues partially restricted the liner’s profit margins, which reported an overall load factor 2.7% lower than 2020. In fact, congestion on trade routes reduced the loadable capacity of the company’s vessels by 14.3%.

OOCL transported a total of 7.59 million TEUs in 2021, up 1.7% from 7.46 million TEUs in 2020. Revenues increased by 110%, to $15.68 billion in 2021, compared to $7.64 billion in 2020.

Translation by Giles Foster

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