Orient Overseas wins Red Bull as container line competes for market share

Consumer Staples 628 Corp - Shipping 816 Earnings 496 European Union 662 Industrials - Capital Goods 476 Materials - Chemicals 170 Mode - Containerized 1277 Mode - Seaborne 1605 U.S. 4649

Orient Overseas has reported a 16.3% surge in Q3 revenues, well ahead of other container-lines including Maersk and Hapag-Lloyd. That was in part due to a 22.6% jump in Transatlantic volumes handled, though a drop in achieved shipping rates on the routing would suggest the firm has competed aggressively for market share. U.S. seaborne imports linked to Orient Overseas from Europe climbed by 7,510 TEUs in Q3’20 versus a year earlier. Handling for Red Bull jumped with 2,170 TEUs linked to the firm from near zero a year earlier. Shipments linked to Robert Bosch jumped by 669 TEUs, or a 78.4...

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