Volumes up, revenues down, latest OOCL update reveals

The total number of boxes carried by Hong Kong’s Orient Overseas Container Line during the second quarter, grew by 6.6%, according to an unaudited operational update issued by parent company, (Orient Overseas International) Limited.

As volumes headed north revenues took the opposite direction registering a 16.6% decrease to US$1.14bn. The total number of liftings across all services for the second quarter was 1,516,036.

Revenue for the first half of 2016 was down 16.9% to US$2.25bn, despite a 5.5% increase in volumes carried. The loadable capacity increased by 4.6% over the period and the overall load factor was 0.7% higher. The overall average revenue per teu dropped 21.2% compared to the same period last year.

OOCL’s  Asia/Europe trade saw the greatest fall in revenue during the first half: 28.6% to US$354.16m. The largest increase in liftings was seen on the Trans-Pacific route where boxes carried rose to 702,728 teu.

OOCL recently announced a rate restoration programme for the Asia to Europe trade.

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