HONG Kong's Orient Overseas Container Line's (OOCL's) overall revenue per TEU in the second quarter was up 13.4 per cent compared to the same period last year.
Soaring rate levels on the trans-Pacific and Asia-Europe in the second quarter led to a solid increase in revenue for the carrier despite flat overall volume across its four main trade lanes.
Revenue from trans-Pacific lines rose 42 per cent in the second quarter and 27.5 per cent in the first half from a year ago.
The COSCO subsidiary did not disclose its profit and loss figures, but the carrier is clearly on track for a highly profitable first half driven by early peak season demand on both the trans-Pacific and Asia-Europe.
oocl reported a second-quarter revenue increase of 14.4 per cent to US$2.26 billion compared to $1.97 billion in the same quarter in 2023, due to a surge in income per container amid freight disruptions in the Red Sea region.
Total liftings in the April-June period only edged up by 0.9 per cent to 1.87 million TEU from 1.86 million TEU in the second quarter last year.
Loadable capacity decreased by 3.4 per cent while overall load factor was 3.6 per cent higher than Q2 2023.
OOCL reported that in the first six months of the year ending June 30, total revenue increased 2.2 per cent to $4.24 billion compared to $4.15 billion in H1 2023.
Total liftings from January to end of June increased by 2.1 per cent to 3.67 million TEU from 3.60 million TEU in the first half of 2023.
SeaNews Turkey
Soaring rate levels on the trans-Pacific and Asia-Europe in the second quarter led to a solid increase in revenue for the carrier despite flat overall volume across its four main trade lanes.
Revenue from trans-Pacific lines rose 42 per cent in the second quarter and 27.5 per cent in the first half from a year ago.
The COSCO subsidiary did not disclose its profit and loss figures, but the carrier is clearly on track for a highly profitable first half driven by early peak season demand on both the trans-Pacific and Asia-Europe.
oocl reported a second-quarter revenue increase of 14.4 per cent to US$2.26 billion compared to $1.97 billion in the same quarter in 2023, due to a surge in income per container amid freight disruptions in the Red Sea region.
Total liftings in the April-June period only edged up by 0.9 per cent to 1.87 million TEU from 1.86 million TEU in the second quarter last year.
Loadable capacity decreased by 3.4 per cent while overall load factor was 3.6 per cent higher than Q2 2023.
OOCL reported that in the first six months of the year ending June 30, total revenue increased 2.2 per cent to $4.24 billion compared to $4.15 billion in H1 2023.
Total liftings from January to end of June increased by 2.1 per cent to 3.67 million TEU from 3.60 million TEU in the first half of 2023.
SeaNews Turkey