• ITVI.USA
    14,054.150
    145.300
    1%
  • OTRI.USA
    21.680
    -0.360
    -1.6%
  • OTVI.USA
    14,029.830
    142.650
    1%
  • TLT.USA
    2.640
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.540
    0.060
    2.4%
  • TSTOPVRPM.CHIATL
    2.460
    0.270
    12.3%
  • TSTOPVRPM.DALLAX
    1.360
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    2.910
    0.180
    6.6%
  • TSTOPVRPM.PHLCHI
    1.490
    0.050
    3.5%
  • TSTOPVRPM.LAXSEA
    3.130
    0.260
    9.1%
  • WAIT.USA
    108.000
    5.000
    4.9%
  • ITVI.USA
    14,054.150
    145.300
    1%
  • OTRI.USA
    21.680
    -0.360
    -1.6%
  • OTVI.USA
    14,029.830
    142.650
    1%
  • TLT.USA
    2.640
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.540
    0.060
    2.4%
  • TSTOPVRPM.CHIATL
    2.460
    0.270
    12.3%
  • TSTOPVRPM.DALLAX
    1.360
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    2.910
    0.180
    6.6%
  • TSTOPVRPM.PHLCHI
    1.490
    0.050
    3.5%
  • TSTOPVRPM.LAXSEA
    3.130
    0.260
    9.1%
  • WAIT.USA
    108.000
    5.000
    4.9%
American ShipperCompany earningsContainerInternationalNews

OOCL second-quarter revenues up, volumes down

Simply put, same goes for first-half numbers

Orient Overseas Container Line (OOCL) said that although second-quarter volumes were down 4.6% year-over-year, total revenues increased 1.1%. 

OOCL’s parent company, Orient Overseas (International) Ltd. (OOIL), covered the second quarter of 2020 in a one-paragraph overview dated Friday. 

According to the release, second-quarter revenues totaled $1.58 million. Average revenue per twenty-foot equivalent unit (TEU) increased 5.9% compared to the same period last year. 

OOCL said loadable capacity decreased by 6.4% year-over-year. The overall load factor was 1.6% higher than the same period in 2019. 

OOCL typically provides little or no commentary in its earnings releases. Its second-quarter release was no different. 

A second paragraph covered the first six months of 2020. OOCL said total volumes decreased 2.6% in that period compared to 2019. Loadable capacity decreased 4.2% compared to the first half of last year, but the overall load factor was 1.3% higher. 

Revenues, however, were 3.2% higher in the first half of 2020 than in 2019. OOCL said the overall average revenue per TEU increased 6% in the first half of this year compared to the same period in 2019. 

OOCL has managed to increase revenues throughout the COVID-19 pandemic. It said in April that despite the turbulent times of the coronavirus crisis, it had managed to increase its year-over-year first-quarter revenue by 5.5%.

China’s COSCO Shipping Holdings acquired a 75% stake in OOIL in 2018. OOCL, COSCO, CMA CGM and Evergreen are members of the Ocean Alliance, one of the space-sharing agreements among container liner companies. 

OOCL revenue up in turbulent times

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Click for more FreightWaves/American Shipper articles by Kim Link-Wills.

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Kim Link-Wills, Senior Editor

Senior Editor Kim Link-Wills has written about everything from agriculture as a reporter for Illinois Agri-News to zoology as editor of the Georgia Tech Alumni Magazine. Her work has garnered awards from the Council for the Advancement and Support of Education, the Georgia Institute of Technology and the Magazine Association of the Southeast. Prior to serving as managing editor of American Shipper, Kim spent more than four years with XPO Logistics.

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