Latest news from Heavy Lift & Project Forwarding International Magazine

Rumours fuel OOCL share price rise

January 13 - The share price of Orient Overseas International (OOIL), the parent company of shipping line Orient Overseas Container Line (OOCL), has jumped more than 25 percent since the end of 2016, reaching a 52-week high of HKD39.70 (USD5.12) on Wednes

Today (Friday) OOIL's share price on the Hong Kong Stock Exchange closed at HKD18.50 (USD2.39). 

There has been much speculation in the trade media and amongst container shipping analysts that in light of the merger and acquisition activity that has swept the container shipping industry the Tung family, which controls OOIL, might consider a sale of the carrier. 

Voting rights for approximately 430 million shares - 68.7 percent of the company's stock - are held by chief executive C.C. Tung through Tung Holdings (Trustee) Inc, according to OOIL's most recent annual report.

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