The parent of Orient Overseas Container Line (OOCL) reported a net profit of $181.3m versus a loss of $15.3m a year ago.

Revenue grew 7% year-on-year to $3.24bn largely in line with expectations, with the better-than-expected net income from lower operating costs and contribution from its property assets.

The second half of 2014 saw container shipping earnings before interest and taxes (ebit) margins improve to 4.2%