OOCL sees high Asia-Europe volumes on good revenue in Q1

Hong Kong-based line Orient Overseas Container Line (OOCL) has really benefitted from its new high capacity vessels, taking full advantage after the delivery of its last megaship in January to see a 21% rise in Asia-Europe liftings in the first quarter to 302,679 teu.

The series of six 21,000 teu container ships was specifically aimed at the trade and OOCL has also done well to not only increase liftings but also raise revenue by an even higher rate, with turnover rising 24% to $281.3m.

The transpacific segment saw a 16% rise in liftings to 457,461 teu. Revenue growth also outpaced liftings here, rising by almost a fifth to $529m, and making this the top revenue earning trade for OOCL.

Read More: OOCL launches 6th and last megaship

Overall volumes rose 8% to 1.58m teu. Loadable capacity spiked 16% but a sharp focus on maintaining revenue saw overall load factor fall 6.4 percentage points as total revenue rose 16% to $1.38bn and average revenue per teu rose 8% compared to the previous corresponding period.

In another key segment, Intra-Asia, OOCL saw volume drop 1% to 716,390 teu but revenue jump 13% to $447.3m.

Posted 03 May 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

Read more stories like this...

Sign up to the Seatrade Maritime Newsletter and get stories like this delivered to your inbox.

Subscribe Now >

ShipTech Storybox

Seatrade ShipTech Middle East

23 – 24 September 2019 | Madinat Jumeirah, Dubai

The knowledge hub of technological advancements for the shipping sector. Learn, discover and experience new technologies and optimise operational efficiencies.

View 2019 programme >