Orient Overseas (International) Limited (OOIL), the mother-company of Orient Overseas Container Line (OOCL), has announced its full-year results for 2021.
The container transport and logistics business reported earnings before interest and taxes (EBIT) of US$7.387 billion, representing an EBIT margin of approximately 44%, while its liner liftings grew to 7.6 million TEU.
Meanwhile, in 2021, the company has ordered ten 16,000 TEU new vessels for delivery in 2024 and 2025.
The overall revenue of OOIL reached US$16.832 billion, while the group’s EBIT and EBITDA were US$7.398 billion and US$7.967 billion respectively.
“Our results for 2021, which include the highest ever revenue, liftings and profit figures for our core container shipping and logistics business, surpassed even the outstanding outcome for 2020,” commented the company in its announcement.
“The financial results were achieved in a context that is entirely without precedent. The second year of a pandemic that affected every country and every industry, 2021 produced enormous challenges,” OOCL added.
The COSCO-owned firm placed orders for ten 16,000 TEU vessels, for a total cost of US$1.576 billion, for delivery between the fourth quarter of 2024 and the fourth quarter of 2025.
“These vessels are added to twelve 23,000 TEU container ships that we already have under construction, for delivery during 2023-2024,” said OOCL.
