OOCL sees better Q1 with 9% volume growth

Hong Kong's Orient Overseas Container Line (OOCL) had a sterling first quarter with total volumes rising 8.9% to 1.4m teu from 1.2m teu in the same period last year.

Reflecting the still weak market however, total revenues increased by just 1.7% to $1.39bn from $1.36bn previously. Overall average revenue per teu decreased by 6.6% from the previous corresponding period.

With OOCL's new bigger ships coming online there was an increase of 3.7% in loadable capacity, but despite this, overall load factor was 3.6% higher than the same period in 2013.

OOCL's traditional strength in the Asia-Europe and intra-Asia trades came back strongly though, with both volumes and revenue rising sharply on the former. Asia-Europe volume rose 9.7% to 226.717 teu on a 7.6% rise in revenue to $282.3m.While Intra-Asia volumes spiked 14.5% to 722,971 teu, revenue only rose 4.2% to $493.6m. The transpacific sector was the worst performer for OOCL, seeing flat volume growth and a 2.2% drop in revenue.

Posted 29 April 2014

© 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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