OOCL doubles revenue despite significant drop in volumes

Container line OOCL, owned by China’s Cosco, doubled its revenue in 2021, with the top line for Q4 alone surging by 101.4 percent, the carrier says. This major increase happens despite a dive in container liftings during the quarter.

Photo: Ingo Wagner/AP/Ritzau Scanpix

The fourth quarter saw revenue take anothera great leap forward for OOCL, although the Cosco-owned container line did see a significant dive in handled container liftings.

Even though liftings most recently dived by 16.9 percent in Q4, OOCL still doubled its top line in the quarter, with revenue amounting to USD 4.9bn against USD 2.4bn in the same period of 2020, according to a statement issued by the carrier Monday.

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