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OOCL Q4 revenue soars 52.2pc to US$2.4 billion as volume rises 23pc

HONG KONG's Orient Overseas Container Line (OOCL), now a Cosco unit, posted a fourth-quarter year-on-year revenue increase of 51

18 January 2021 - 19:00
HONG KONG's Orient Overseas Container Line (OOCL), now a Cosco unit, posted a fourth-quarter year-on-year revenue increase of 51.2 per cent to US$2.4 billion on the back of an overall volume increase of 23.7 per cent to 2.2 million TEU.

Total 2020 revenue was up 18.9 per cent to $6.2 billion on a full-year volume of 7.4 million TEU, up 7.3 per cent year on year. Much of the growth came after the second quarter, helping to compensate for a weaker first half.



Transpacific revenue rose 56.6 per cent to $994 million, with volume rising 28.9 per cent to 639,034 TEU year on year. Asia-Europe revenue was up 56.5 per cent to $477 million on the back of a 17.6 per cent increase in volume to 429,144 TEU.



Intra-Asia/Australasia, OOCL's biggest trade by volume, reported revenue increasing 55.1 per cent to $794 million, with volume up 23.5 per cent to just over one million TEU.



The transatlantic trade posted a 22.8 per cent increase in volume to 149,687 TEU, but Covid lockdowns in the US and Europe affected overall demand and the revenue grew a relatively low four per cent year on year to $156 million.



Transpacific revenue was up almost 20 per cent at just over $3 billion, with volume rising 10 per cent to 2.1 million TEU. Asia-Europe revenue growth of 24.5 per cent took its full-year total to $1.5 billion, as volume rose 5.1 per cent to 1.5 million TEU. Intra-Asia/Australasia revenue increased 20.2 per cent to $2.3 billion on a 5.5 per cent increase in volume to 3.2 million TEU.


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