Unlike many of the major shipping companies global containerized companies which, thanks to the recent rise in the value of the of sea freight rates, in the first part of this year recorded An increase in turnover, in the first quarter of 2024 the Chinese Orient Overseas (International) Ltd. (OOCL), which operates in this market through the wholly-owned subsidiary Orient Overseas Container Line (OOCL), down -9.0% compared to the first quarter of 2023, as the of $1.98 billion, which is, however, higher than in the previous three quarters.

The decrease was due to the decline in revenues from transatlantic maritime services and those operated in Asia and Australasia at 154.2 respectively million (-50.6%) and $598.4 million (-17.4%). Growing, revenues from transpacific and transpacific services, Asia-Europe, which totalled €734.4 million (+13.0%) and €493.3 million million dollars (+0.8%).

The overall reduction in revenues was due to the an increase of +3.4% in containerized cargo volumes transported by the OOCL fleet that in the first three months of This year they amounted to 1.80 million TEUs, of which 863 thousand TEUs transported on routes in Asia and Australasia (+11.3%), 449 thousand TEUs on transpacific routes (+0.7%), 359 thousand TEUs transported by Asia-Europe services (-7.5%) and 125 thousand TEUs from transatlantic services (-2,1%).

OOIL is controlled by the Chinese shipping group COSCO Shipping Holdings.