ShippingWatch

OOCL lifted both revenue and volumes in the third quarter

Cosco-owned OOCL both increased its revenue and lifted more containers in the third quarter of the year. The shipping company's rates, however, increased less than the market, says analyst.

Photo: PR / OOCL

Container shipping line OOCL, owned by China's Cosco, reports of a stronger revenue and an increase in handled containers in the third quarter of the year, shows a short accounting update.

The Hong Kong-based shipping company's revenue came to USD 1.9 billion in the third quarter against USD 1.6 billion during the same period in 2019. Revenue for the first nine months of the year increased from USD 4.6 billion last year to USD 5 billion this year.

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