OOCL revenue through 3Q down 39%

OOCL revenue through 3Q down 39%    The parent of Hong Kong-based liner carrier OOCL said Friday its revenue per TEU for the first nine months of 2009 was down 26.5 percent on the same period in 2008.
   OOCL parent Orient Overseas (International) Ltd. said volume for the line through the same period was down 17.1 percent, with revenue sliding 39 percent to $2.7 billion.
   The line handled 3 million TEUs in the first nine months of the year, down from 3.7 million in the same period in 2008. In the third quarter (July through September) revenue slid further than the year-to-date numbers, down 42.3 percent to $948 million.
   Volume was slightly better in the third quarter, down 16.7 percent to 1 million TEUs. The slight gains in third quarter volume were wholly attributable to better performance in intra-Asia and Australia trade, where volume was down 12.8 percent year-on-year.
   Volume in the transpacific, transatlantic and Asia/Europe trades was lower in the third quarter than the year as a whole through September. Transpacific volume fell 17.6 percent, compared to 16.2 percent for the first three quarters, while transatlantic volume fell 22.2 percent, worse than the 19.8 percent drop for the year so far.
   The worst volume drop came in Asia/Europe, where volume dipped 22.9 percent, compared to 19.4 percent for the year.
   OOCL's biggest trade by volume is intra-Asia/Australasia, followed by transpacific, Asia/Europe and transatlantic.