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L’Oreal Makes Transatlantic Shipping Worth It For Orient Overseas

Corp - Shipping 692 Earnings 391 Global 930 Mode - Containerized 1121 Mode - Seaborne 1420

Container-line Orient Overseas reported revenue growth of 7.1% year over year in 2Q, helped by a 4.6% improvement in total volumes handled. Much of the growth came from Transatlantic traffic which increased by 16.3% year over year, with Europe-to-U.S. volumes having surged 39.1% higher. In turn there’s been significant growth in the consumer goods sector with shipments by L’Oreal up 6.2-fold compared to a year earlier. Other major consumer goods users of Orient Overseas’ services included Red Bull, which grew 3.4% and was the largest of all its customers, and Hilti with an 11.9% improvem...

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