OOCL: U.S. IMPORTS GROWTH WILL PICK UP IN 2ND HALF-YEAR

OOCL: U.S. IMPORTS GROWTH WILL PICK UP IN 2ND HALF-YEAR    Orient Overseas (International) Ltd., the parent company of container shipping line OOCL, said that U.S. import growth may pick up in the second half of the year.
   “While we cannot predict the extend to which the U.S. economy will decelerate, the consensus view is of slower growth in U.S. imports during the first half of 2001, followed by a recovery in the second half,” said C. C. Tung, chairman and chief executive officer of the Hong Kong-based group.
   In a letter to stockholders, Tung commented: “We continue to expect a near equilibrium in supply and demand during the important peak shipping season, and hence stability in freight rates, despite the forecast that total (ship) newbuilding deliveries will outweigh the rate of demand growth for 2001.”
   The shipping group said that it expects growth in European exports this year, and continuing recovery of the Asian economies.