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OOCL Q4 revenues tumble by 34.8%OOCL Q4 revenues tumble by 34.8%
Orient Overseas Container Line (OOCL) reported 34.8% decline in revenues for Q4 as freight rates tumbled from record levels.
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Photo: OOCL
In fourth quarter operational update OOCL parent Orient Overseas International Ltd (OOIL) said that the container line had made revenues of $3.18bn in Q4 2022 down 34.8% on the same period in 2021.
Revenue per teu decreased by 30.9% in Q4 last year compared to the same period a year earlier. The biggest falls in revenue were seen on the Transpacific and Asia – Europe trades which reported 43.4% and 46% declines respectively to $996.1m and $795.3m in Q4 2022.
The intra-Asia/Australasia trades saw a report a 25.2% drop in revenues to $1bn in Q4 last year compared to the same period in 2021. The only positive news was on the Transatlantic trade where revenues increased by 27.6% to $383.2m.
For 2022 as whole OOCL’s revenues grew by 19.1% to $18.7bn compared to 2021, while liftings were up 6% on the previous year.
In Q4 2022 liftings and loadable capacity decreased by 5.6% and 2.6% respectively compared to the same quarter in 2021.
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