OOCL Revenues and Volumes Increased in Q4

Orient Overseas Container Line (OOCL) reported a 10% increase revenues, and a 20% jump in volumes in the fourth quarter of 2016, but revenue per teu was down 8.2%.

News ID: 71923

Date: 28 January 2017 - 12:47

The subject of recent merger speculation, OOCL, reported revenues of $1.3bn for Q4 2016 some 10.3% higher than the $1.18bn in the same quarter in 2015, MANA correspondent reported.

However, for 2016 as a whole revenues were down 9.9% at $4.7bn in 2016 against $5.2bn in the previous year.

For Q4 2016 volumes for OOCL were up 20.2% at 1.67m teu compared to 1.39m teu a year earlier. For the year as whole volumes were 6.08m teu in 2016 up some 9.1% on the 5.57m teu in the preceding.

But when it comes to average revenue per the state of the container market in 2016 really becomes clear. Overall average revenue per teu declined 8.2% in the fourth quarter of last year against the corresponding quarter in 2015. For the year as whole revenues were down 17.4% in 2016 on the previous year.