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OOCL records higher Q3 volumes on Asia-Europe growth

OOCL records higher Q3 volumes on Asia-Europe growth
Orient Overseas Container Line (OOCL) has recorded higher lifting volumes in the third quarter ended 30 September 2014, boosted by strong contributions from the Asia-Europe trade.

During the quarter, OOCL posted total lifting volumes of 1.42m teu, up 5.3% compared to the same period of last year.

The main Asia-Europe trade saw volumes jumped 20.9% year-on-year to 251,861 teu, while the transpacific trade recorded volume increase of 6.3% to 333,403 teu. The intra-Asia/Australasia route also saw volumes rose 1.5% to 735,142 teu.

The transatlantic service, however, recorded a drop in lifting volumes by 2.5% year-on-year to 99,921 teu.

Total revenue for the third quarter increased by 5.7% to $1.52m.

In the first nine months of 2014, OOCL posted total volumes of 4.23m teu, up 8.4% over the same period of last year and total revenues reached $4.41m, up 4.8% year-on-year.