OOCL’s Q3 revenues down on weaker rates

   The parent company of OOCL said the Hong Kong-based container line carried 1,315,496 TEUs in the third quarter, 6.6 percent more than in the same 2010 period, but total revenues decreased by 8.3 percent to $1.44 billion.
   The company saw increases in container volumes in the Asia-Europe (+12.3 percent), transatlantic (+19.9 percent), and intra-Asia/Australasia (+7.6 percent) trade lanes, but saw a 2.3 percent decline in volume on its biggest trade lane, the transpacific.
   The company also saw declines in revenue in both the transpacific (-19.1percent) and Asia-Europe trades (-23.2 percent), but increased revenue in the transatlantic (+18 percent) and Intra-Asia/Australasia (+8.5 percent) lanes.
   The Hong Kong-based container carrier said its average revenue per TEU dropped by 14 percent when compared to the third quarter of last year.