OOCL gets off to solid start in Q1

OOCL loading container

Hong Kong-based liner company Orient Overseas Container Line (now a unit of Cosco) saw revenue boosted by 5.9% in the first quarter of 2019, according to its latest trading update. Revenue topped US$1.46bn compared to US$138bn. Meanwhile, box liftings edged up 1.6% to 1.61m teu from 1.58m in Q1 2018.

OOCL’s loadable capacity increased by2.3%.The overall load factor was 0.5% lower than the same period in 2018. Overall average revenue per teu increased by 4.2% compared to the first quarter of last year.

Most favoured trade lane in terms of increased liftings was the Trans-Atlantic, which saw liftings increase 13.4% 116,822 teu, from 103,048 teu during the same period last year. The trade lane to witness the least growth during the period under review was Intra-Asia/Australasia; the service took on an extra 0.8% of liftings to top 722,318 teu, up slightly compared with last year’s 716,390 teu.

 

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