OOCL's transpacific volumes slip amid trade war

OOCL has posted slightly lower year-over-year volumes and revenues on transpacific trade amid the US-China trade war.

The Cosco-owned liner company posted 495,787 teus for the fourth quarter of 2019, down 1.1% from a year earlier. Full-year volume slipped 0.4% to 1.97bn teus.

Revenue for the three-month period fell 5.2% to $635m, while year-to-date revenue gained 5.2% to $2.51bn.

The tariff war, which began in early 2018, entered into a "phase-one" agreement on 15 January that included $200bn in US imports to China over the next two years.