Orient Overseas Container line’s unaudited Q4 review showed a 3.3% drop in revenues against a 6% increase in total revenues to US$1.38bn, as a result of greater per-box yield.
During the period, the overall average revenue per teu increased by 9.6% compared to 4Q 2016. Loadable capacity increased by 1% as the overall load factor fell 3.7% compared to the same period last year.
For full-year 2017, total volumes increased by 3.6% and total revenues increased 15.4% to US$5.43bn. Loadable capacity was up 5.1% and the overall load factor fell 1.2% lower compared to 2016. Overall average revenue per box increased by 11.4%.
Digging down to the various trades operated by OOCL, Asia/Europe showed most improvement during 2017, up 19.7% to 1.138m teu compared to 950,649 in 2016. Intra-Asia/Australasia was most severely hit recording an 8.1% fall in liftings to 2.918m teu compared to 3.176m teu in 2016.
Looking at the financials, Asia/Europe was the star performer as revenues surged 43.9% to US$1.102bn, up from US$765.8bn in 2016. Trans Atlantic revenues fell 4.3% to US$495.35m. Despite the fall in liftings Intra-Asia/Australasia saw revenues bucked 3.9% to US$1.761bn up from US$1.694bn in 2016.