OOCL’s 4th-quarter revenue up 2.2%

OOCL’s 4th-quarter revenue up 2.2%    Hong Kong-based Orient Overseas (International) Ltd., parent company of OOCL, Thursday reported a 2.2 percent increase in its fourth-quarter revenue at $1.02 billion from $998.1 million in the same quarter 2004.
   OOCL’s average revenue per TEU in the quarter decreased 1.2 percent. Total volumes increased 3.5 percent with total liftings amounting to 900,629 TEUs.
   The biggest gain in revenue came from the transatlantic market with a 15.8 percent rise to $133.4 million, despite a 1 percent drop in box volumes to 82,450 TEUs.
   Revenue from the transpacific, OOCL’s most profitable market, improved 2.1 percent in the fourth quarter to $438.4 million with volumes rising 2 percent to 277,387 TEUs. Revenue from OOCL’s services in the Asia/Europe trade rose 1.4 percent to $197.2 million with liftings up 8.5 percent to 144,776 TEUs. Intra-Asia and Australasia revenues were down 2.9 percent to $251.2 million even though box volumes improved 3.8 percent to 396,016 TEUs.
   For the full year, OOCL’s revenue increased 2.1 percent to $4.02 billion from $3.59 billion in 2004. OOCL handled 3.52 million TEUs, up 7.8 percent compared to the 3.26 million TEUs handled in the previous year. Overall average revenue per TEU for 2005 increased 3.9 percent.
   OOCL’s overall load factor in 2005 was close to that of 2004 despite an 8.8 percent increase in loadable capacity as scheduled newbuildings were delivered and deployed, OOIL said.