OOCL sees Q2 volumes rise 11.2% to 1.45m teu

Hong Kong line Orient Overseas Container Line (OOCL) had a good second quarter with total volumes rising 11.2% to 1.45m teu  from 1.31m teu previously. Total revenues also increased by 6.8% to $1.50bn from $1.41bn in the second quarter of last year.

Liftings rose across all segments including the key Intra-Asia trades for OOCL. Transpacific rose 12.7%, Asia-Europe spiked up 22.1% while Intra-Asia grew at a good pace of 9.1%.

Reflecting the tough market however revenue growth was slow in most trades except Asia-Europe, which saw a 24.4% jump. However this is off a low base of $245.6m in the previous corresponding quarter.

OOCL was able to make use of its new megaships coming online this year as even though loadable capacity increased by 2.1% in the second quarter, overall load factor rose 6.5% compared to the same period in 2013. Overall average revenue per teu however dropped by 4.0% compared to the second quarter of last year.

For the first half, total volumes rose by 10.1% to 2.81m teu from 2.55m teu in the same period last year while total revenues rose 4.3% to $2.89bn from $2.77bn previously. 

The second half of the year, and the upcoming usual high season will be important for OOCL this year as the first half suggests a slowing trend scenario of increased loadable capacity, which rose 2.9%, against falling overall average revenue per teu which fell by 5.3% in order to keep the overall load factor still rising 5.0 % from the first half of 2013. 

Posted 28 July 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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