OOCL Hurt by Soft Rates and Asia/Europe Volume Slide

Hong Kong-based container carrier Orient Overseas Container Line (OOCL) marked a 12.2% decrease in total revenues in the quarter ended September 30, despite handling 1.9% more containers compared to the same period a year earlier.

OOCL was hit the hardest on its Asia/Europe services which brought 32.2% less revenue and carried 11.5% less containers in the third quarter of 2015 compared to the same period a year earlier. The company earned USD 210.2 million on trade routes linking Asia to Europe while handling 222,872 TEUs, compared to USD 310.2 million in revenue and 251,861 TEUs handled in 3Q2014.

The company also marked an 8.6% slide in revenue and 9.6% slide in volume on the Trans-Atlantic services.

The decreases on these two services were partially offset by volume increases on the company’s Trans-Pacific and Intra-Asia/Australasia services, which saw a 9.5% and 4.5% surges in volumes, respectively. However, despite the rise in volumes, both the Trans-pacific and the Intra-Asia/Australasia services recorded a 0.2% and a 13.4% dip in revenues, respectively.

Overall, OOCL reported USD 1.332 billion in total revenues, and 1,447,464 TEUs in volumes for the quarter ended September 30, 2015.

The company’s loadable capacity increased by 12.3%, but the overall load factor was 7.1% lower than the same period in 2014.

Overall average revenue per TEU decreased by 13.8% compared to the third quarter of last year.

For the first nine months of 2015, OOCL’s total volumes decreased by 0.9% over the same period last year and total revenues recorded an 8.4% drop.

Loadable capacity increased by 6%, but the overall load factor was 5% lower than the same period in 2014.

Overall average revenue per TEU decreased by 7.6% compared to the same 9-month period last year.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2017 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

THE 30TH WORLD PORTS CONFERENCE Enabling Trade Energizing The World

This event is expected to have more than 500 attendees from the field of port, logistics, shipping and maritime industry…

read more >

Singapore Maritime Week 2017

Singapore Maritime Week (SMW) is the leading maritime event in Singapore. Driven by the Maritime and Port Authority of Singapore (MPA), SMW…

read more >

Breakbulk Europe 2017

For more than a decade, Breakbulk Europe has served as the networking hub for industry professionals who do business in Europe — or would like to! Exhibitors and sponsors include cargo owners, ocean carriers, freight forwarders, ports/terminals, heavy haulers, equipment companies and more that are involved in this specialized industry.

In addition to exceptional networking opportunities, Breakbulk Europe provides a dynamic conference, along with a range of educational and training workshops — intensive all-day classes held the day before the exhibition opens as well as many on-the-floor sessions.

  • Over 7,600 participants attended Breakbulk Europe 2016
  • Meet with over 400 exhibitors and sponsors
  • Hear from industry experts, including leading shippers, during the conference sessions
  • Learn new skills in the educational workshops held before the exhibition and on-the-floor micro-seminars and exhibitor-led sessions during the event

More info

read more >

Smart Operations

Smart Operations events, from Fathom Maritime Intelligence, examines how to use intelligent shared integration, and connected operations…

read more >