Sponsored By

OOCL Q3 volumes up 5% but on lower turnoverOOCL Q3 volumes up 5% but on lower turnover

Hong Kong-based line Orient Overseas Container Line (OOCL) reported a 5.2% rise in third quarter volumes to 1.52m teu from 1.45m teu in the previous corresponding quarter, however, expectedly revenues plunged 13.8% to $1.15bn from $1.33bn previously.

Vincent Wee, Hong Kong and South East Asia Correspondent

November 1, 2016

1 Min Read
Kalyakan - stock.adobe.com

The lower rates helped OOCL to fill its ships as loadable capacity increased by 0.7% while overall load factor still rose 3.6% over the previous corresponding period.

Overall average revenue per teu however was where they took the hit, falling 18.1%.

For the year-to-date, total volumes rose 5.4% to 4.41m teu while total revenues fell by 15.8% to $3.40bn.

Loadable capacity increased by 3.2% and the overall load factor was 1.7% higher than the previous corresponding period. Overall average revenue per teu fell by 20.1% from the previous period.

The biggest rise in volume (14%) was on the transpacific trade but this trade lane also saw the biggest fall in total revenue of 18.2% to $423.m.

In contrast, things seem to be picking up for OOCL on the Asia-Europe trade as their traditionally strong contacts and apparently right-sized ships start coming onstream. While volumes rose 7.2% to 238,844 teu, total revenue fell only 7.7% to $193.0m.

Read more about:

OOCL

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.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like