OOCL’s 3rd-quarter revenue up 9.3%

OOCL’s 3rd-quarter revenue up 9.3%    Hong Kong-based Orient Overseas (International) Ltd., parent company of OOCL, Thursday reported a 9.3 percent increase in its third quarter revenue at $1.05 billion from $968.2 million in the same quarter 2004.
   OOCL’s average revenue per TEU in the quarter increased 3.6 percent. Total volumes increased 5.5 percent with total liftings amounting to 894,143 TEUs.
   The biggest gain in revenue came from the transatlantic market with a 17.6 percent rise to $122.4 million, despite only a 2.6 percent increase in box volumes to 80,123 TEUs.
   Revenue from the transpacific, OOCL’s most profitable market, jumped 9.1 percent in the third quarter to $481.4 million with volumes rising 10.8 percent to 293,577 TEUs. Revenue from OOCL’s services in the Asia/Europe trade rose 6.1 percent to $203.8 million with liftings rising 7 percent to 139,683 TEUs. Intra-Asia and Australasia revenues were $250.4 million after box volumes improved 1.8 percent to 380,760 TEUs.
   After nine months, OOCL’s revenue improved 15.9 percent to $3.0 billion from $2.59 billion in the same period last year. OOCL has so far handled 2.62 million TEUs, up 9.4 percent on the 2.39 million TEUs handled in the first nine months of 2004.
   OOIL said OOCL’s overall load factor was close to that of the first nine months in 2004 despite a 9.9 percent increase in loadable capacity during the first nine months of this year as scheduled newbuildings were delivered and deployed. Overall average revenue per TEU for the year to date has increased 5.9 percent, OOIL said.