Asian shipping lines are reporting steep revenue declines

New operating results from four Asian shipping lines were released Friday, pointing to steep performance declines in the fourth quarter and ongoing market erosion in the first month of this year.

Orient Overseas Container Line (OOCL), the Hong Kong-listed subsidiary of China’s Cosco Group, disclosed revenue and volume data for Q4 2022. Taiwan’s Evergreen, Yang Ming and Wan Hai released monthly operating stats for January.