The fourth quarter performance of Orient Overseas International Limited saw all indicators turn positive. Total volumes surged 20.2% and revenues increased by 10.3% to US$1.3bn. However, the improved performance was not enough to negate the effects of a poor year overall.
For the full year volumes increased 9.1% as revenue fell 9.9% to US$4.7bn. While the overall load factor was lifted by 2.5%, loadable capacity increased by 5.9% and overall average revenue per teu plummeted 17.4% compared to 2015.
For the full year 2016, liftings were up across all services led by the Trans-Pacific trade, which grew by 18.2% to 1.56m teu. Intra-Asia/Australasia trade accounted for 3.2m box liftings.
But as volumes grew revenue declined most notably on Asia/Europe trade where revenue fell 13.3% to US$765.8m.
Another highlight came at the beginning of 2017 when OOIL found itself to be the most coveted liner operator in Asia, seemingly courted by CMA CGM and China Cosco Shipping. Ultimately however, the romance was short-lived.