OOCL sees revenue, volume gains in 3rd-quarter
Hong Kong’s Orient Overseas (International) Ltd. reported third quarter revenue and box volume gains at it ocean carrier subsidiary OOCL.
OOCL posted a 6 percent quarterly increase in revenue at $1.12 billion from $1.06 billion a year ago. Average revenue per TEU decreased 5.2 percent as the carrier’s global volumes increased 11.8 percent to 1 million TEUs. Loadable capacity in the quarter jumped 12.2 percent as scheduled newbuildings were delivered and deployed, OOIL said.
The biggest gain in revenue came from the transatlantic market with a 18.7 percent rise to $145.3 million, despite only a 5.7 percent increase in box volumes to 84,680 TEUs.
Revenue from the transpacific, OOCL’s most profitable market, only improved 2.1 percent in the third quarter to $491.6 million with volumes rising 18.7 percent to 319,016 TEUs.
Revenue from OOCL’s services in the Asia/Europe trade rose 12.5 percent to $229.3 million after the carrier’s biggest volume gain of 31.6 percent to 183,779 TEUs.
Intra-Asia and Australasia revenues improved 1.8 percent to $254.8 million following a volume increase of 8.3 percent to 380,760 TEUs.
For the year to date, OOCL’s revenue is up 4.7 percent to $3.15 billion from $3 billion in the same period last year. OOCL has so far transported 2.86 million TEUs, up 9 percent on the 2.62 million TEUs handled in the first nine months of 2004.
OOIL said OOCL’s overall load factor after nine months was down 1.3 percent with a 10.7 percent increase in loadable capacity. Overall average revenue per TEU for the year to date has dropped 3.9 percent, OOIL said.