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OOCL Q3 volumes up 5%, revenue spikes by a quarterOOCL Q3 volumes up 5%, revenue spikes by a quarter

Orient Overseas Container Line (OOCL) saw third quarter total volumes rise 5.0% to 1.60m teu from 1.52m teu in the same  period  last  year, the company said in a stock market update.

Vincent Wee, Hong Kong and South East Asia Correspondent

October 30, 2017

1 Min Read
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Third quarter total  revenues rose 26.5%  to $1.45bn, while loadable  capacity increased by 9.0% as more of its megavessels came online.  


Although the overall load factor was 3.0% lower than the previous corresponding period, improvements were made on the financial performance as overall  average  revenue  per teu jumped by a fifth.

The biggest gains came in the Asia-Europe trade as volume rose by a quarter to 297,897 teu along with a 58% rise in revenue to $305.7m.

Transpacific meanwhile remains the biggest revenue driver and a key volume contributor, keeping the whole show running with a 14% rise in volumes to 474,794 teu, the second highest segment by volume, as revenue rose by a third to $563.6m.

The intra-Asia trade continues to come up well, comprising the highest volumes at 715,693 teu. While this was a a7% drop from the previous period, it came with a healthy 13% rise in revenue to $456.7m in this notoriously competitive sector.

For  the  year-to-date,  total  volumes increased by 6.2%  to 4.68m teu and and  total  revenues rose 19.0% to 4.04m teu.   

During the same period, loadable capacity increased by 6.6% and the overall load factor slide 0.3% but overall  average  revenue  per  teu increased by 12.1%  compared  to  the  same  period  in the year before.

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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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