OOCL reports 9% revenue drop in Q1

Total cargo liftings of the company increased by 3.4% and the loadable capacity increased by 2.2%. The overall load factor was 0.9% higher than the same period in 2023.

Overall average revenue per teu decreased by 12.0% compared to the first quarter of last year. 

The Trans-Pacific and Intra-Asia/Australasia’s cargo lifting volume achieved 0.7% and 11.3% growth while Asia/Europe and Trans-Atlantic volume declined 7.5% and 2.1%, respectively. 

Based in Hong Kong and part of the Cosco Shipping Group, OOCL provides fully-integrated logistics and containerized transportation services, with a network that encompasses Asia, Europe, the Americas, Africa and Australasia.