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OOCL Q1 box volumes down 2.5%

OOCL Q1 box volumes down 2.5%
Hong Kong's Orient Overseas Container Line (OOCL) saw first quarter revenue fall 3.2% to $1.34bn from $1.39bn previously as total volumes also slipped 2.5% to 1.32m teu from 1.35m teu in the same period last year.

Loadable capacity decreased 1.6% and the overall load factor was 0.7% lower than the same period  in  2014. Overall  average  revenue  per  teu  also decreased  by  0.7%  compared  to  the  previous corresponding period.

Encouragingly, the Asia-Europe trade was the only lane that saw an improvement, with liftings rising 6% to 240,331 teu although revenue still fell 1.9% to $276.8m, suggesting rates are still weak. On other key lanes such as transpacific, liftings fell 5.5% to 291,424 teu and revenue fell 2.2% to $458.0m. On the intra-Asia/Australasia route, liftings fell 3.3% to 699,023 teu and revenue fell 4.4% to $471.9m.