Revenues, Volumes Continue Rising at OOCL

Hong Kong-based Orient Overseas Container Line Limited (OOCL) reported a rise in revenues as it carried more containers in the third quarter of 2019.

For the period ended September 30, 2019, total volumes increased by 4.1% from the same period last year, while a 5.8% rise was reported in total revenues.

During the quarter, the company’s Asia/Europe service marked the greatest surge in volumes. The service handled 366,229 TEUs, a change of 11.4 percent compared to 328,786 TEUs recorded a year earlier.

The greatest change in revenue was seen in the Trans-Atlantic service, as revenues here jumped by 12 percent to USD 148 million from USD 132.2 million.

Total volumes for the third quarter reached 1.78 million TEUs, up from last year’s 1.71 million TEUs, while total revenues stood at USD 1.64 billion, up from 1.55 billion reported a year earlier.

Loadable capacity increased by 4.7%. The overall load factor was 0.4% lower than the same period in 2018. Overall average revenue per TEU increased by 1.6% compared to the third quarter of last year.

For the first nine months of 2019, total volumes increased by 3.5% over the same period last year and total revenues recorded a 6.3% growth. Loadable capacity increased by 4.5%. The overall load factor was 0.8% lower than the same period in 2018. Overall average revenue per TEU increased by 2.7% compared to the same period last year.