Orient Overseas (International) Limited is announcing a profit that will be due to equity investors of US$1,367.9 million for 2023. in contrast to a loss of US$9,965.2 million for 2022.

The earnings per ordinary share for 2023 were US$2.07 and the earnings per ordinary share for 2022 were US$15.09.

The Board of Directors has recommended that the dividend payable for the full 2023 would be around 50% of the profits due to equity investors around US$687 million which includes an amount in the amount of US$0.145 for each ordinary share, and an additional specific dividend in the amount of US$0.036 per share of ordinary shares in 2023.

To optimize the structure of capital for the Company and show our desire to provide a dividend payout to shareholders The Board of Directors recommends the revising the Dividend Policy in order to establish an annual goal of a dividend payment of 30 percent up to 50% of total net profits credited to owners of the Company for the years 2024-2025 and 2026. This could be as or final dividends depending on, for example the performance of the Company’s financials, its the liquidity situation, plans for the future and requirements for working capital of the Company as well as the current commercial, financial, and regulatory environment.

The impressively strong container shipping market was observed during the outbreak has now passed as we’ve returned to a fairly normal, but uncertain year in 2023. The growth in cargo demand did not go as well as people had expected, and was impacted by the high rate of inflation and the slowing of economic growth in advanced economies along with the changing changes in the patterns of consumer spending after-pandemic. With the carriers’ schedule becoming more stable, retailers began to shift to use a “just-in-time” approach when replenishing their stock, which delayed demands to some extent. From a supply perspective in the absence of bottlenecks as well as the constant delivery of new vessels and new ships, the increase in supply is certainly greater than in terms of demand as well as the ongoing reduction in freight costs.

We have delivered 7 newly constructed 24,188 TEU container vessels. These vessels will not just assist in increasing the capacity but also help to realize the efforts of the group to modernize its fleet from a technical and operational perspective. It will also improve the efficiency of its operations and competitiveness on the market and help Dual-Brand reach the aim of maintaining the world’s most prestigious echelon status as well as a further proof of the OOIL’s dedication to the reduction of carbon emissions, energy conservation and protection of the environment.

Collaboration with other members of the COSCO Shipping Group and alliances can help increase the reach of OOIL and improve cost-management capabilities and assist the Group to increase revenue while cutting costs. We are convinced that the benefits from Dual Brand will continue to be beneficial for the future expansion.

More information is available here:

Kalia Wong

Orient Overseas (International) Limited

Tel: (852) 2833-3654

Email: kalia.wong@oocl.com