Orient Overseas Container Line’s parent company, OOIL, reported lower earnings in the first quarter of 2026 as container volumes increased but freight rates continued to soften.
According to unaudited results for the quarter ended March 31, OOCL recorded liner revenue of $2.14 billion, down 7.6% year on year. At the same time, total liftings rose 1.7% to 1.997 million teu.
That volume increase still lagged behind global growth, which Container Trade Statistics estimated at 7.5% for January and February combined.
Loadable capacity at OOCL rose 4.3% from a year earlier, outpacing traffic growth and pushing average revenue per teu down 9.1%, reflecting weaker pricing conditions.
The biggest setback came on the trans-Pacific trade lane, where liftings fell 5.9% to 523,385 teu and revenue dropped 16.8% to $744.8 million.
Asia-Europe moved in the opposite direction on volumes, with liftings rising 11.8% to 384,893 teu, but pricing remained under pressure there too, with revenue slipping 4.5% to $481.9 million.
For full-year 2025, OOIL posted revenue of $8.78 billion, down 10.6% year on year, while total liftings increased 3.7% to 7.874 million teu.
The company also confirmed that it took delivery of nine new 16,828 teu vessels during 2025, completing that fleet series.
