Demand spike

OOCL Profits Plummet Amid Soaring Rates & Demand Spike

  • OOCL enjoys rich profits following a demand spike despite pandemic.
  • OOCL’s liftings improved by an above-market 7.3% on 2019 with revenue gaining 18.9% on the year.
  • Tradelanes also record substantial gains and no end in sight to the bull run of container lines.

A strong Q4 2020 operational update from OOCL implies the liner industry’s profitability since the middle of last year, despite the pandemic, reports the Loadstar.

Substantial revenue gains

The liner barometer data released by the Hong...

https://mfame.guru/oocl-profits-plummet-amid-soaring-rates-demand-spike/

Cargo Carrier Contracts Slip Amid Surging Demand Spike

  • Carriers are finding spurious reasons to refuse the release of equipment at depots in China, in addition to rolling contracted containers without notice.
  • Even the biggest BCOs were having trouble getting equipment and space when they had exceeded their MQCs.
  • Carriers appear to be turning away from the stability of annual contracts on the route in favour of the more volatile spot business.
  • There is no immediate sign of the unprecedented demand spike on the trade coming to an end, with US ports...

https://mfame.guru/cargo-carrier-contracts-slip-amid-surging-demand-spike/