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OOCL makes 20.4pc less per box in first quarter as revenues fall 17.1pc

HONG KONG's Orient Overseas Container Line (OOCL) in a filing to the Hong Kong stock exchange declared that its volumes increases 4.2 per cent while revenues declined 17.1 per cent to US$1.11 billion in the first quarter.

With a 6.3 per cent increase in loadable capacity, the overall load factor was 1.7 per cent lower year on year. The overall average revenue per TEU fell 20.4 per cent year on year.

By trade lanes, quarterly liftings on the transpacific were up 12.4 per cent to 327,657 TEU while revenue fell 12.5 per cent to $400.6 million.

First quarter Asia-Europe liftings fell 11.1 per cent to 213,737 TEU while revenues declined 36.3 per cent to $176.3 million.

Quarterly transatlantic liftings were up 10.8 per cent to 96,943 TEU while revenues fell 2.6 per cent.

In intra-Asia / Australasian trades the first quarter brought a 5.3 per cent increase in liftings to 735,835 TEU as revenues fell 14.4 per cent to $403.7 million.