OOCL in San Francisco
Orient Overseas International Limited, parent of containerline OOCL, reported full year results heavily in the red today, but still performing better than its peers. The Hong Kong containerline recorded a 2009 net loss of US$402m, compared to 2008’s $114m net profit. While the second half was far stronger than the first six months results were depressed by a $25m loss from discontinued operations related to its property development business and a $10m revaluation loss on Wall Street Plaza.