OOCL posts strong revenue, volume gains in 4th quarter
Hong Kong’s Orient Overseas (International) Ltd., parent of ocean carrier OOCL, today reported unaudited double-digit revenue and box volume gains in the fourth quarter of 2007.
OOCL’s revenue for the last three months of 2007 increased 27 percent to $1.40 billion from $1.10 billion a year earlier. Average revenue per TEU was up 10.7 percent as the carrier’s global volumes increased 14.8 percent to 1.19 million TEUs. The overall load factor was down 6 percent from the same period in 2006 with a 23.6 percent increase in loadable capacity as scheduled newbuildings were delivered and deployed, OOIL said.
The carrier’s biggest gain in revenue during the fourth quarter came in the Asia/Europe market, which posted a 49.8 percent rise to $346.1 million, despite a slender 2.7 percent increase in box volumes to 187,646 TEUs.
OOCL’s quarterly revenue from the transpacific trade improved 15.5 percent in the fourth quarter to $498.4 million with volumes rising 15.1 percent to 337,903 TEUs.
Revenue from OOCL’s services in the transatlantic trade rose 18.4 percent to $173.1 million after a volume gain of 16.1 percent to 101,650 TEUs.
Intra-Asia/Australasia revenue improved 30.4 percent to $385.8 million following a volume increase of 19.1 percent to 562,510 TEUs.
For the whole of 2007, OOCL’s revenue increased 21.1 percent to $5.15 billion from $4.25 billion in 2006. OOCL transported a total of 4.60 million TEUs, up 18.2 percent.
OOIL said OOCL’s overall load factor in 2007 was down 3.5 percent with a 23.4 percent increase in loadable capacity. Overall average revenue per TEU improved 2.6 percent.
OOCL posts strong revenue, volume gains in 4th quarter
