OOCL’s Revenues Plummet
Hong Kong-based container shipping company Orient Overseas Container Line (OOCL) saw a 2.1% dip in total container shipping volumes in the second quarter of 2015 when compared to the same period last year.
Total revenues decreased by 9.3% to USD 1,362.4 million. Loadable capacity increased by 7.1%, whereas the overall load factor was 6.8% lower than the same period in 2014. Overall average revenue per teu decreased by 7.4% compared to the second quarter of last year, the company said.
Rates were particularly badly hit on the Asia – Europe trade with revenues plunging 28.1% in the second quarter to $219.4m compared to $305.4m a year earlier. OOCL also reported an 11.8% drop in volumes to 224,004 teu in the second quarter. For the first half as a whole OOCL said revenues on the Asia – Europe trade fell 15.6% to $496.3m.
Intra-Asia/Australasia was the only region to post an increase, with volume rising 2.6 per cent to 780,851 TEU, but revenue fell 6.4 per cent to $502.7 million.
Transpacific volume 3.6 per cent to 324,883 TEU while revenue fell three per cent to $490.9 million. Transatlantic volume decreased by eight per cent to 92,670 TEU with revenue off 3.2 per cent to $149.4 million.
For the first six months of 2015 (ended 30th June 2015), total volumes decreased by 2.3% over the same period last year and total revenues recorded a 6.4% drop.
The container line’s loadable capacity increased by 2.8%, whereas the overall load factor was 3.8% lower than the same period in 2014.
The reports shows that the overall average revenue per teu decreased by 4.2% compared to the same period last year.
