OOCL sees Asia/Europe revenue surge

OOCL sees Asia/Europe revenue surge Hong Kong’s Orient Overseas (International) Ltd. reported significant first quarter revenue and container volume gains, especially in the Asia/Europe trade, made by its ocean carrier subsidiary OOCL.
   OOCL posted an 11.6 percent quarterly revenue increase to $1.08 billion from $971.7 million in the same period a year ago. Average revenue per TEU decreased 4.7 percent year-on-year, as the carrier’s global volumes grew steadily but below the rising available capacity driven by the influx of new ships. OOCL’s volume for the quarter increased 17.2 percent to 1.04 million TEUs while loadable capacity jumped 20.6 percent.
   The biggest gain in revenue came from the Asia/Europe market with a 42 percent rise to $245.6 million, after a 33.8 percent increase in box volumes to 191,982 TEUs.
   Revenue from the transpacific, OOCL’s biggest single market, declined 4.5 percent in the first three months to $415.2 million with volumes rising 2.9 percent to 293,222 TEUs.
   Revenue from OOCL’s services in the transatlantic rose 7.3 percent to $141.9 million. Volume in that market grew 10.2 percent to 89,439 TEUs.
   Intra-Asia and Australasia revenues improved 21.6 percent to $281.6 million following a volume increase of 23.3 percent to 463,393 TEUs.