OOIL Posts Solid H1 2026 Results: US$5.17 Billion Revenue, US$728 Million Profit, Declares US$0.55 Interim Dividend

Bulletin Express09-23

Orient Overseas (International) Limited (OOIL) reported resilient interim results for the six months ended 30 June 2026, navigating a volatile shipping environment while delivering record operational volumes and maintaining a strong balance sheet.

Financial Highlights • Revenue rose 6.1% year-on-year to US$5.17 billion, driven by higher liftings and improved second-quarter freight rates. • Profit attributable to shareholders totalled US$728 million, down 23.7% from US$954 million in H1 2025, reflecting elevated fuel, inland transport and charterhire costs. • EBITDA declined 14.4% to US$1.26 billion, with margin contracting to 24.3% from 30.1%. • Earnings per share were US$1.10 (H1 2025: US$1.44). • Interim dividend set at US$0.55 per share (H1 2025: US$0.72), payable 16 October 2026.

Operational Performance • Liftings surpassed 4 million TEU, the highest first-half level in company history; liner revenue exceeded US$4.60 billion. • Trans-Pacific liftings climbed 7%; revenue per TEU slipped 3%, but overall revenue grew 4%. • Asia/Europe liftings rose 9% on full resumption of the LL3 service; revenue per TEU eased 3%, leaving segment revenue up 6%. • Intra-Asia/Australasia liftings increased 3%, with revenue per TEU up 5%, lifting segment revenue 9%. • Average bunker price advanced 8% to US$582 per ton, adding to cost pressures.

Cash Flow and Balance Sheet • Net cash stood at US$4.50 billion (30 June 2026), versus US$5.00 billion at year-end 2025, after US$334.95 million in lease repayments and US$277.36 million in final dividends for FY 2025. • Cash and bank balances of US$5.78 billion outweighed total debt of US$1.28 billion, supporting a net cash-to-equity ratio of 0.33. • Capital expenditure reached US$1.19 billion, primarily for new vessel instalments.

Fleet Expansion & Sustainability • Delivery of the 24,168 TEU methanol dual-fuel vessel “OOCL Wisdom” in June marked a milestone in OOIL’s green transition. • Twelve 13,600 TEU LNG dual-fuel ships ordered in April, with deliveries scheduled from Q3 2028 to Q1 2030. • Fourteen 18,500 TEU methanol dual-fuel vessels, ordered in 2025, will be delivered between Q3 2028 and Q3 2029. • OOIL maintained inclusion in Dow Jones Best-in-Class Asia Pacific and FTSE4Good indices, reflecting ongoing ESG progress.

Outlook Management anticipates continued market volatility as new capacity enters service post-peak season, but notes underlying demand resilience. The group will focus on disciplined cost control, digitalisation, and fleet greening to bolster competitiveness and sustainable growth.

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