OOCL ?09 volume dipped 14%, revenue fell 35%

OOCL Æ09 volume dipped 14%, revenue fell 35%    OOCL's parent company said Wednesday that the line's 2009 revenue dipped 35.2 percent to $3.8 billion, while global volume fell 14 percent to 4.15 million TEUs.
   The line's fourth quarter performance was comparatively better, with revenue falling 22.7 percent to $1.1 billion, and volume slipping 4.1 percent to 1.1 million TEUs.
   OOCL's performance on its individual trades reflected the tough year:
   ' On the transpacific, the line moved 1.1 million TEUs for the year, down 12.6 percent from 2008. Its transpacific revenue was $1.49 billion, down 33.3 percent.
   ' On the transatlantic, OOCL moved 349,000 TEUs, down 17.7 percent, while revenue fell 34.9 percent to $487.9 million.
   ' On the Asia/Europe lane, volume was down 16.5 percent to 678,000 TEUs, while revenue fell 48.3 percent to $687.9 million.
   OOCL said its load factor for 2009 declined 3.8 percent despite the fact that it reduced capacity 9.6 percent. Revenue per TEU declined 24.7 percent.
   The company released no details on profits and cautioned that the numbers were preliminary estimates and weren't yet audited. OOCL will release its full results in March.
   OOCL's parent, Orient Overseas (International) Ltd., earlier this week announced the sale of its property division for $2.2 billion, a deal that will net the company more than $1 billion, but that sale won’t have any bearing on 2009 numbers.