Orient Overseas (International) Ltd. (OOIL, 00316.HK) expects cargo tariffs to remain under intense pressure amid a lackluster global market.
Conditions have not improved since the second half last year, the Hong Kong Economic Journal reports, citing OOIL chief financial officer Alan Tung.
The shipping company posted a net profit of US$284 million for 2015, up 4.9 percent from a year earlier.
About 84 percent of the profit came during the first half, driving interim profit 31.6 percent year on year.
The company handled 5.58 million TEUs (twenty-foot equivalent units), unchanged from 2014.
Average revenue from each TEU, however, plunged 10 percent from a year ago.
The company expects 3.7 percent growth in demand for shipping services this year, Tung said.
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