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Hong Kong-based Orient Overseas Container Line (OOCL) has reported a profit of $1.13 billion for the first half of 2023, down from $5.75 billion in the same period in 2022. Revenues also decreased to $4.54 billion, compared to $11.06 billion in 2022. Despite the decline, OOCL stated that the market is "very far from being in disaster territory" and there are indications that demand is improving. However, challenges such as inflation, higher interest rates, and uncertain net fleet growth remain. OOCL maintains a cautious outlook for the future.
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