OOCL’s Volumes Drop, Revenue Increases

Hong Kong-based shipping company Orient Overseas Container Line (OOCL) saw its volumes decrease slightly in the fourth quarter of 2017, while revenues continued rising.

Total volumes were at 1,612,733 TEUs, down by 3.3% from the same period last year when the company handled a total of 1,667,549 TEUs.

The decrease was mainly due to the Intra-Asia / Australasia volumes, which plunged by 14.2% to 736,857 TEUs from 859,196 TEUs. The company’s other trades Trans-Pacific, Asia / Europe and Trans-Atlantic recorded a volume rise of  7.5%, 11% and  5.4%, respectively.

OOCL’s total revenues for the quarter were up by 6% reaching USD 1.38 billion, against USD 1.3 billion reported in the same three-month period a year earlier, mostly driven by a 24.3% surge in revenue on the Asia / Europe trade.

The company said that its loadable capacity increased by 1%, while the overall load factor was 3.7% lower than the same period in 2016. Overall average revenue per TEU increased by 9.6% compared to the fourth quarter of last year.

For the full year of 2017, total volumes increased by 3.6% over 2016 and total revenues recorded a 15.4% growth. Total revenue stood at USD 5.42 billion, against USD 4.7 billion reported in 2016.

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