OOCL sees container volumes increase in first half

Orient Overseas Container Line (OOCL) has increased its lifting volumes in the first half of 2017 compared to the year-ago period, according to an operational updated from the carrier’s parent firm Orient Overseas (International) Limited (OOIL).

For the six months ended 30 June 2017, OOCL lifted total volumes of approximately 3.09m teu for its worldwide services, an increase of 6.8% from 2.89m teu in the same period of last year.

The rise in volumes was aided mainly by transpacific volumes increasing 23.1% year-on-year to 865,081 teu and Asia-Europe volumes up by 22.2% to 546,505 teu.

The transatlantic volumes also improved by 8% to 209,438 teu but the intra-Asia/Australasia volumes underperformed with a decline of 5.2% to 1.47m teu.

The total first half revenue rose by 15.2% year-on-year to around $2.59m, with the overall average revenue per teu increasing by 7.8% compared to the previous corresponding period.

Earlier this month, China’s Cosco Shipping has tabled a $6.3bn cash offer to acquire OOIL, with the deal pending approvals from the relevant antitrust authorities.

Posted 31 July 2017

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Lee Hong Liang

Asia Correspondent

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