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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.

Vincent Wee, Hong Kong and South East Asia Correspondent

July 22, 2013

1 Min Read
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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.

 

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Hong KongOOCL

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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