02-05-2017

OOCL first quarter liftings revenue rises 6.4pc to US$1.85 billion

OOCL

HONG KONG's Orient Overseas (International) Ltd (OOIL), parent of its box unit, Orient Overseas Container Line (OOCL), posted a 6.4 per cent first quarter year-on-year revenue gain to US$1.18 billion, according to a stock exchange filing.

Overall liftings were up seven per cent to 1,470,017 TEU while revenue increased 6.4 per cent to $1.85 billion.

Overall average revenue per container decreased by 0.6 per cent compared to the first quarter of last year.

For the first quarter of 2017, volumes were seven per cent up on the same period last year, said the Hong Kong-listed company.

Loadable capacity increased 0.9 per cent and the overall load factor was five per cent higher than the same period in 2016, the company said. 

Transpacific volume was up 20.1 per cent to 393,469 TEU this year and brought in 10.8 per cent more revenue at $443.7 million.

Asia-Europe was 17.6 per cent up on liftings year on year to 213,737 TEU and 28.9 per cent up on revenue to $227.2 million.

Transatlantic liftings were up four per cent to 100,861 TEU, but revenue fell 10.9 per cent to $96.9 million.

Both intra-Asia and Australasia routes lost on lifting and revenue, down 1.6 per cent on box volume to 724,398 TEU and off two per cent on revenue to $395.4 million.

Source: Schednet 

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