Orient Overseas Container Line has logged a steep drop in revenue in the first concrete indication that the liner sector’s slump persisted towards the end of 2023.
Hong Kong-listed parent Orient Overseas (International) Limited, ultimately owned by China’s Cosco, said fourth-quarter freight income was $1.62bn, down 49% from the same period in 2022.
OOCL is always the first listed container ship owner to report any quarterly figures.
