Supply Chain Research

Container-line Orient Overseas reported third quarter revenues that climbed 27% on a year earlier. While a sign of success ahead of the COSCO Shipping takeover (no profit numbers are published on the quarter) it includes a poor performance on achieved rates. They fell 17% on average, led by a 21% drop in Asia-Europe rates. Market rates by contrast climbed 21%, indicating Orient Overseas has had to compete aggressively for volumes. Its growth is similar to that expected for Evergreen Marine (27% based on consensus estimates) but well ahead of the Japanese shippers that report next week as...