OOCL Sees Rise in Volumes, Revenues

Hong Kong-based container carrier Orient Overseas Container Line (OOCL) recorded a 15.2% rise in its total revenues for the six-month period ended June 30, 2017.

News ID: 75268

Date: 29 July 2017 - 15:51

Compared to the first half of 2016, the company’s revenue increased from USD 2.24 billion to USD 2.59 billion, MANA correspondent reported.

Similarly, the shipping firm said that it handled 6.8% more volumes during the first half of the year, reaching 3,086,676 TEUs, up from 2,890,208 TEUs handled in the same period a year earlier.

Loadable capacity increased by 5.3%, while the overall load factor was 1.2% higher than in the same period in 2016. Overall average revenue per TEU increased by 7.8% from 2016.

The company’s Intra-Asia / Australasia was the only underperformer for the period, marking a 5.2% drop in volumes, while the Trans-Pacific, Asia / Europe and Trans-Atlantic services witnessed a 23.1%, 22.2% and 8% increase in volumes during the first half of 2017, respectively.

For the second quarter of 2017, total revenues increased by 23.8% to USD 1.4 billion from USD 1.13 billion. Total volumes were up 6.6%, reaching 1,616,659 TEUs, compared to 1,516,036 TEUs handled in the same quarter in 2016.

Loadable capacity increased by 9.6%, while the overall load factor was 2.3% lower than the same period in 2016. Overall average revenue per TEU increased by 16.2% compared to the second quarter of last year.