Equity Snap: Orient Overseas Int‘l (316 HK): 2Q26 operating update: Demand and freight rate momentum strength

Research evidence excerpt

Equity Snap: Orient Overseas Int‘l (316 HK): 2Q26 operating update: Demand and freight rate momentum strength

13 July 2026

Equity Snap: Orient Overseas Int'l Equities Marine

(316 HK)

2Q26 operating update: Demand and freight rate

momentum strength Hong Kong

◆ OOIL’s 2Q26 showed stronger demand and freight rates, led Parash Jain*

by transpacific trades; industry freight rates point to even Global Head of Transport & Logistics Research The Hongkong and Shanghai Banking Corporation Limited

stronger 3Q26 on continued tight demand-supply balance parashjain@hsbc.com.hk

+852 2996 6717

Deepak Maurya*, CFA

Orient Overseas Int'l (316 HK, HKD130.70, Hold, TP HKD130.00) Analyst, Asia Transport

The Hongkong and Shanghai Banking Corporation Limited

(Priced as of 13 Jul 2026)

deepakmaurya@hsbc.com.hk

+852 2822 4292

OOIL’s 2Q26 operational update points to a clear demand-and-pricing upcycle

Bruce Chu*, CFA

versus last year, with growth broad-based across its major trades. Liner revenue rose Analyst, Asia Transport

19.8% y-o-y to USD2,537m, supported by an 8.8% increase in liftings to 2,135,174 The Hongkong and Shanghai Banking Corporation Limited

bruce.y.h.chu@hsbc.com.hk

TEU and a 10.1% increase in average liner revenue per TEU. This compares to +852 2996 6621

16.2% y-o-y growth in average China Containerised Freight Index (CCFI) during the Cathy Huang*, CFA

quarter, part of which driven by a 56.6% increase in average bunker price on a 1.5- Associate, Asia Transport

month lag basis. Capacity also expanded (+6.3% loadable capacity), but volumes cathy.m.y.huang@hsbc.com.hk

grew faster than supply, lifting the overall load factor by 1.9ppts y-o-y, suggesting +852 2996 4506

improved utilisation and firmer market conditions during the quarter.