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OOCL quarterly volumes up 5.4pc, but revenues off 0.9pc to US$1.3 billion

HONG KONG's Orient Overseas Container Line (OOCL) has posted a 5.4 per cent increase in container volume to 1.24 million TEU year on year, but suffered a 0.9 per cent decrease in revenue to US$1.32 billion.

OOCL quarterly volumes up 5.4pc, but revenues off 0.9pc to US$1.3 billion
20 April 2012 - 20:04

HONG KONG's Orient Overseas Container Line (OOCL) has posted a 5.4 per cent increase in container volume to 1.24 million TEU year on year, but suffered a 0.9 per cent decrease in revenue to US$1.32 billion.

Loadable capacity increased 12.6 per cent in the first three months of the year, but the overall load factor was five per cent lower year on year. Overall average revenue per TEU also shrank six per cent from the same period last year.

For individual trade lanes, revenue was up more than 11 per cent in the transatlantic and intra-Asia/Australasian trades, but down in the company's larger transpacific and Asia-Europe trades. All four major trade lanes experienced growth in cargo volume, said the OOCL statement.

Transpacific volume increased 3.4 per cent to 306,571 TEU year on year yet revenue fell 4.4 per cent to $452.3 million. Meanwhile Asia-Europe volumes increased 3.2 per cent year on year to 202,452 TEU, despite a revenue decline of 21.2 per cent to $219 million.

Transatlantic volume increased 18.2 per cent to 107,516 TEU with revenue rising 11.3 per cent to $174.3 million.

Intra-Asia/Australasia volume was also up 5.2 per cent to 628,100 TEU as was revenue, which increased 11.7 per cent to $471.3 million year on year.

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