Trans-Pacific Trade Drives OOCL’s Revenue Up

OOCLImage courtesy: OOCL

Hong Kong-based Orient Overseas Container Line (OOCL) delivered stronger revenue in the third quarter of 2018.

During the quarter ended September 30, 2018, the company witnessed a 7 percent rise in revenue, reaching USD 1.55 billion compared to USD 1.45 billion seen in the same period a year earlier. The rise was mainly driven by the Trans-Pacific trade, where revenues surged by 15.5 percent.

The Asia/Europe trade’s revenue was slightly down by 0.1 percent, while the Trans-Atlantic and Intra-Asia/Australasia revenues increased by 3.8 and 2.3 percent, respectively.

OOCL’s total volume for the third quarter was up by 6.9 percent to 1.71 million TEU from 1.59 million TEU handled in the corresponding period in 2017.

The Asia/Europe trade saw the largest rise in volumes, which surged by 10.4 percent, followed by a 7.3 percent increase in Trans-Pacific volumes. Intra-Asia/Australasia volumes were also up by 6.6 percent, while Trans-Atlantic volumes fell by 1.6 percent.

Loadable capacity increased by 3.9 percent, while the overall load factor was 2.3 percent higher than in the same period in 2017. Overall average revenue per TEU increased marginally by 0.1 percent compared to the third quarter of last year.

For the first nine months of 2018, total volumes increased by 6.3 percent over the same period last year and total revenues recorded an 8.7 percent growth. Loadable capacity increased by 7.8 percent and the overall load factor was 1.2 percent lower than the same period in 2017. Overall average revenue per TEU increased by 2.3 percent compared to the same period last year.

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2019 >>
MTWTFSS
29 30 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 31 1 2

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >