OOCL lifts 5.4pc more boxes in third quarter, but earns 15.8pc less revenue


HONG KONG's OOCL parent Orient Overseas (International) Ltd (OOIL) posted a 13.8 per cent year-on-year decrease in third quarter sales to US$1.14 billion as revenue per box fell 18.9 per cent despite liftings increasing 5.2 per cent.

While Orient Overseas Container Line (OOCL) lifted 5.4 per cent more boxes to 2.31 million TEU in the third quarter, it made 15.8 per cent less revenue year on year at $1.14 billion.

For the first nine months of 2016, OOCL volume increased 5.4 per cent, though revenue fell 15.8 per cent and loadable capacity increased 3.2 per cent. Revenue per box fell 20.1 per cent year on year.

Transpacific liftings increased 14 per cent to 416,147 TEU, Asia-Europe increased 7.2 per cent to 238,844 TEU, transatlantic increased eight per cent to 97,631 TEU and intra-Asia/Australasia increased 0.2 per cent to 770,303 TEU.

But in revenue terms transpacific sales fell 18.2 per cent to $423.8 million, Asia-Europe fell 7.7 per cent to $193.9 million, transatlantic fell 12.3 per cent to $126.1 million and intra-Asia/Australasia fell 12 per cent to $404.9 million.

Source: Schednet

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