Hong Kong container ship owner Orient Overseas Container Line (OOCL) has looked to play down the positive market sentiment of recent weeks in results issued on Friday.

The shipowner said the conflicting positive and negative signals that have made forecasting so difficult in the past 12 to 24 months remain firmly in place.

“Certainly, the market is very far from being in disaster territory and, of course, there are some indications that demand is improving and that shipping companies are behaving rationally in the face of fluctuating demand — all of this is reassuring,” OOCL said.