Seatrade-Maritime: OOCL H1 profit down despite higher revenues and volumes

Published by Seatrade-Maritime

Orient Overseas (International) Ltd, parent of OOCL, says the container market did not normalise as expected in the first half of 2026 and has instead remained uncertain.

Hong Kong-listed OOIL, part of Cosco Shipping, reported an EBIT of $728 million for the first half of 2026 compared to $954.2 million in the same period a year earlier.

Revenues increased to $5.17 billion in H1 2026 up from $4.88 billion in the first half of 2025, and total container liftings increased to 4.13 million teu for the period up from 3.93 million teu in H1 205. Liner revenues and liftings were at a record high excluding the pandemic period.

On the cost side the company reported that average bunker fuel prices in the first half of the year were up 8% at $582 per ton compared to $541 per in the same period in 2025. The company said sharp fluctuations in oil prices, heightened inflation expectations and higher EU carbon emission cost increased cost pressure on container lines and affected the global economic outlook.

However, geopolitical uncertainty also resulted in a better than expected container shipping market. “The global container market did not normalise in the first half of 2026 as many had anticipated at the end of last year. Instead, the year progressed amid the uncertainties. With the escalation of conflict in the Middle East and repeated changes in the situation, the return to the Red Sea was once again delayed,” OOIL said.

Looking ahead OOIL said market volatility may become the new normal and the large number of newbuildings joining the global fleet could rates under pressure. “As new vessels continue to be delivered and the peak season approaches its end, freight rates may come under pressure,” the company said.