- OOIL’s 2024 profit surged to US$2,577.4 million, with revenue of US$10,702 million and EBIT of US$2,635 million.
- Liner liftings reached 7.6 million TEUs, with a 25% EBIT margin, and a US$1.32 per share dividend was declared.
- The fleet expanded with six 24,188 TEU and one 16,828 TEU new vessels, plus six 13,000 TEU charters for 2026.
Orient Overseas (International) Limited (OOIL) reported a strong financial performance for 2024, with profit attributable to equity holders rising to US$2,577.4 million, significantly higher than US$1,367.9 million in 2023. The company generated group revenue of US$10,702 million, along with an EBIT of US$2,635 million and EBITDA of US$3,536 million, supported by an operating cash flow of US$3,212 million, according to Port News.
Operational Performance and Liner Growth
OOIL’s container transport and logistics segment recorded an EBIT of US$2,666 million, achieving an EBIT margin of 25%. Liner liftings expanded to 7.6 million TEUs, reflecting a steady increase in shipping volumes. Earnings per ordinary share saw a substantial rise from US$2.07 in 2023 to US$3.90 in 2024.
Dividend Announcement and Financial Position
The company declared a final dividend of US$1.32 per share, distributing US$1,288 million (50% of the annual profit) to equity holders. As of December 31, 2024, OOIL maintained a robust financial position with net cash of US$6.5 billion and cash and bank balances of US$7.9 billion, resulting in a net cash-to-equity ratio of 0.49:1.
Fleet Expansion and Future Investments
OOIL continued its fleet expansion with the delivery of six 24,188 TEU and one 16,828 TEU self-owned container ships in 2024. The company also chartered six 13,000 TEU vessels, scheduled to enter service in 2026, reinforcing its commitment to strengthening global shipping capacity.
Company Overview and Strategic Growth
Headquartered in Hong Kong, OOIL operates under the OOCL brand and remains focused on expanding its fleet with ultra-large container vessels. The company’s strategic initiatives for 2024 reflect its ongoing commitment to enhancing its global presence in container shipping and logistics.
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Source: PortNews
