OOCL boosts 1st quarter rates, revenues
Orient Overseas Container Line boosted its worldwide revenue 24 percent to $935 million in the first quarter from $753 million a year earlier, as freight rates and volumes continued to rise.
The Hong Kong-based carrier saw its revenue from intra-Asia and Australian services jump 41 percent to $241 million in the latest quarter, while its revenues from both the transpacific and transatlantic trades rose 21 percent to $404 million and $111 million, respectively.
The carrier’s average revenue per TEU in the two-way transpacific trade rose 4 percent to $1,524 in the first quarter, from $1,467 a year earlier.
Confirming industry reports that rates are also increasing on the transatlantic route, OOCL said its revenue per TEU in the two-way Atlantic trade averaged $1,369 in the first quarter, 8 percent more than $1,268 for the same quarter of 2004.
OOCL said its overall load factor remained largely unchanged in the first quarter, despite the addition of 14 percent in ship capacity.
OOCL boosts 1st quarter rates, revenues
