OOCL Q2 volumes up 5% to 1.7m teu

Orient Overseas Container Lines (OOCL) saw second quarter total volumes rise 4.6% to 1.69m teu from 1.62m teu in the same period in 2017 and the volume gains were also able to be translated into good gains with total revenues increasing by 4.0% to $1.46bn although average revenue per teu fell by 0.6%.

Loadable capacity increased by 4.7% while overall load factor remained on par with the same period in 2017.

For the first half total volumes increased by 6.0% to 3.27m teu and total revenues recorded a 9.6% growth to $2.84bn. Loadable capacity increased by 9.9% although overall load factor was 3.1% lower, suggesting a slow start to the year.

For the first six months of the year however, overall average revenue per teu increased by 3.5% compared to the same period last year.

For the second quarter the biggest volume gains were made in the Asia-Europe trade, which rose 13.5% to 335,094 teu. This was at the cost of lower rates however, since revenue in the same period only rose 1.3% to $302.6m.

The transpacific trade seemed to achieve the best performance with volumes rising 7.2% to 505,712 teu while revenue rose 11.2% to  $587.2m.

Posted 27 July 2018

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Vincent Wee

Asia Editor, Seatrade Maritime News

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