OOCL’s Trans-Atlantic Trade Flourishes in 1H 2019

OOCLImage Courtesy: OOCL

Hong Kong-based Orient Overseas Container Line (OOCL) delivered stronger volumes and higher revenues in the first half of 2019.

For the first six months of 2019, ended June 30, total volumes increased by 3.2 percent over the same period last year and total revenues recorded a 6.5 percent growth.

During the period, the company’s Trans-Atlantic service marked the greatest surge in volumes and revenues. Volumes in this service jumped by 14.9 percent from 209,172 TEU to 240,294 TEU, while revenues reached USD 294.8 million, representing an increase of 20.1 percent.

Loadable capacity increased by 4.3 percent, while the overall load factor was 0.9 percent lower than the same period in 2018. Overall average revenue per TEU was up by 3.3 percent compared to the same period last year.

For the second quarter of 2019, total volumes were up by 4.6 percent from the same period in 2018, reaching 1.76 million TEU. Total revenues increased by 7.1 percent to USD 1.56 billion.

The Trans-Atlantic was the best performer in the three-month period as well, recording a surge of 23.9 percent in revenues, that stood at USD 154.26 million at the end of the quarter. Similarly, volumes in this trade were up by 16.3 percent at 123,472 TEU.

Loadable capacity was up by 6.4 percent, the overall load factor was 1.4 percent lower, while average revenue per TEU increased 2.4 percent compared to the second quarter of 2018.

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