25-07-2016

OOCL Q2 revenue plunges 16.6pc but volumes rise 6.6pc

OOCL

HONG Kong's Orient Overseas Container Line (OOCL) has announced that total volumes for the second quarter of year from all trades totalled 1.5 million TEU, an increase of 6.6 per cent over last year's Q2 total of 1.4 million TEU.

However, total revenue from all trades plunged 16.6 per cent from US$1.36 billion in Q2 last year to $1.1 billion in the three-months period ending June 2016.

Loadable capacity increased by 3.0 per cent, while the overall load factor was 2.9 per cent higher than the same period in 2015. Overall average revenue per TEU decreased by 21.8 per cent compared to the second quarter of last year, the shipping line said in a statement.

For the first six months of 2016, total volumes amounted to 2.9 million TEU, 5.5 per cent up on last year's total of 2.7 million.

Revenues in the six months to the end of June 2016 was $2.2 billion, 16.9 per cent down on last year's first half total of $2.7 billion.

Loadable capacity increased by 4.6 per cent in the half of the year, while the overall load factor in the same period was 0.7 per cent higher than the same period in 2015. Overall average revenue per TEU decreased by 21.2 per cent compared to the same period last year.

Source: Schednet

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