29-01-2018

OOCL quarterly revenues up 15.4pc on of greater yield per box

HONG KONG's Orient Overseas Container Line (OOCL) posted a 15.4 per cent year-on-year increase in revenues in the fourth quarter thanks to greater yield per box, up 3.6 per cent.

OOCL continues as an independent company, though it was expected to merge with Chinese state-run conglomerate Cosco Shipping by the end of last year - 2017.

Despite a quarterly 3.3 per cent year-on-year decline in volume to 1.61 million TEU, OOCL liner revenue jumped six per cent to US$1.38 billion.

The steady growth helped the company grow its full-year 2017 revenues 15.4 per cent to $5.43 billion, according to its most recent unaudited financial statements.

OOCL's loadable vessel capacity, meanwhile, increased one per cent year on year during the fourth quarter and 5.1 per cent for the year, according to Hong Kong stock exchange filing.

The carrier saw the strongest volumes growth in the Asia-Europe trade lane, where quarterly loadings were up 11 per cent and 19.7 per cent for the year.

Transpacific fourth quarter volumes were up 7.5 per cent and 16.3 per cent for the year while transatlantic volumes were up 54 per cent for the quarter and 8.7 per cent for the year.

But intra-Asia and Australasia trade slipped 14.2 per cent during the fourth quarter and 8.1 per cent for the year.

Source: Schendet

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