OOCL’s Volumes, Revenues Continue Rising
- Business & Finance
Hong Kong-based Orient Overseas Container Line (OOCL) witnessed a continued rise in revenues in the second quarter of 2018, driven by an increase in volumes.
For the three-month period ended June 30, 2018, the company’s total revenues increased by 4 percent to USD 1.46 billion from USD 1.4 billion. The rise was mainly driven by the Trans-Pacific trade, where revenues surged by 11.2 percent.
The Asia/Europe trade’s revenue was slight up by 1.3 percent, while the Trans-Atlantic and Intra-Asia/Australasia revenues were down by 0.2 and 1.4 percent, respectively.
OOCL’s total volumes for the second quarter increased by 4.6 percent to 1.69 million TEU from 1.61 million TEU. The Asia/Europe trade saw the largest rise in volumes, which surged by 13.5 percent, followed by a 7.2 percent increase in Trans-Pacific volumes. Intra-Asia/Australasia volumes were slightly up at 0.5 percent, while Trans-Atlantic volumes dropped by 2.3 percent.
The company informed that loadable capacity increased by 4.7 percent, as the overall load factor was at par with the same period in 2017. Overall average revenue per TEU decreased by 0.6 percent compared to the second quarter of last year.
For the first six months of 2018, total volumes increased by 6 percent over the same period last year and total revenues recorded a 9.6 percent growth. Loadable capacity increased by 9.9 percent, while the overall load factor was 3.1 percent lower than in the same period in 2017.