Vessels sales hit $121.9 in one week, as firms count earnings
Vessels sales hit $121.9 in one week, as firms count earnings May 01,2019 Also, Hong Kong-based Orient Overseas Container Line (OOCL), delivered stronger revenues in Q1 2019, with the largest rise experienced in the Trans-Atlantic trade.For the quarter ended March 31, 2019, OOCL’s revenues increased by 5.9 per cent to $1.46 billion from $1.37 billion reported in the same quarter a year earlier. Also, National Shipping Company of Saudi Arabia (Bahri), delivered a stronger net profit in Q1, as the company’s net profit rose 45 per cent to SAR 179.3 million ($47.8 million) compared to SAR 123.1 million ($32.8 million) reported in the three months ended March 31, 2018.Operational profit was at SAR 377.1 million for the quarter, rising by 46 per cent from SAR 256.9 million seen a year earlier. Bahri explained that the rise in profit was driven by the improvement in some of its business units, and the increase in the transportation rates in general despite th...