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OOCL improves volumes but revenues dip

OOCL improves volumes but revenues dip
Hong Kong: Orient Overseas Container Lines (OOCL) improved its container liftings in the first quarter but revenues dipped.

For the three months ended 31 March 2012, OOCL's lifted volumes rose 5.4% year-on-year to 1.24m teu. The largest gain was seen on the trans-Atlantic route with 18.2% increase to 107,516 teu.

Total revenues decreased by 0.9% to $1.32m in the first quarter from $1.33m in the corresponding period of 2011.

“With a 12.6% increase in loadable capacity, the overall load factor was 5% lower than the same period in 2011. Overall average revenue per teu decreased by 6% compared with the same period last year,” OOCL said in a statement.