OOCL Posts Higher Container Volumes

Hong Kong-based carrier Orient Overseas Container Line (OOCL) said both container volumes and revenue were higher in the third quarter this year than in 2018.

The COSCO-owned company said that the total volumes for the third quarter of 2019 (ended 30th September 2019) were 4.1% up from the same period last year. Total revenues increased by 5.8% to US Dollars 1,646.2 million. Loadable capacity increased by 4.7%.

The overall load factor was 0.4% lower than the same period in 2018. Overall average revenue per teu increased by 1.6% compared to the third quarter of last year.

For the first nine months of 2019 (ended 30th September 2019), total volumes increased by 3.5% over the same period last year and total revenues recorded a 6.3% growth. Loadable capacity increased by 4.5%.

The overall load factor was 0.8% lower than the same period in 2018. Overall average revenue per teu increased by 2.7% compared to the same period last year.

The Board informed that this operational update for the third quarter ended 30th September 2019 is based on the Group’s internal records and management accounts and has not been reviewed or audited by the auditor.