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OOCL sees Q2 revenue drop 10%

OOCL sees Q2 revenue drop 10%
Orient Overseas Container Line (OOCL) reported an almost 10% drop in revenue $1.41bn for the second quarter on a 2.6% fall in total volumes to 1.31m teu.  

Overall average revenue per teu dropped by 7.3% compared to the second quarter of last year. The Asia-Europe segment was especially hard-hit, with total revenue plunging by a quarter from $326.9m last year to $245.6m in the second quarter of this year.

For the first half of this year, total volumes decreased by 1.5% year-on-year to 2.55m teu from 2.59m teu previously. Total revenues for the first half also saw a much more moderate decline, falling 3.7% to $2.77bn from $2.88bn in the previous corresponding period. Overall average revenue per teu decreased by 2.2% compared to the first of 2012.