OOCL Q2 volumes rise by 5% to 1.7m TEU

Orient Overseas Container Lines (OOCL)

Orient Overseas Container Lines (OOCL) saw second quarter total volumes rise 4.6% to 1.69 million from 1.62 million TEU in the same period in 2017 and the volume gains were also able to be translated into good gains with total revenues increasing by 4% to $1.46 billion although average revenue per TEU fell by 0.6%.

Loadable capacity increased by 4.7% while overall load factor remained on par with the same period in 2017.

For the first half total volumes increased by 6.0% to 3.27 million TEU and total revenues recorded a 9.6% growth to $2.84 billion. Loadable capacity increased by 9.9% although overall load factor was 3.1% lower, suggesting a slow start to the year.

For the first six months of the year however, overall average revenue per TEU increased by 3.5% compared to the same period last year.

For the second quarter the biggest volume gains were made in the Asia-Europe trade, which rose 13.5% to 335,094 TEU. This was at the cost of lower rates however, since revenue in the same period only rose 1.3% to $302.6 million.

The transpacific trade seemed to achieve the best performance with volumes rising 7.2% to 505,712 TEU while revenue rose 11.2% to  $587.2 million.  

Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.