OOCL sees significant revenue growth despite drop in box volumes

For the second quarter of 2022, the total revenue of Orient Overseas Container Line (OOCL) increased by 52.4%, compared to 2021 Q2, reaching US$5.285 billion.

It is noteworthy that this result is a record for the company, and was achieved amid severe port congestion around the network, which drove down liftings by 5.6% and loadable capacity by 6.1%. OOCL noted the overall load factor was 0.5% higher than the same period in 2021.

However, the total average revenue per TEU increased by 61.5% compared to the second quarter of 2021 due to significantly higher freight rates.

For the first half of the year, the COSCO-owned box carrier company recorded a 61% increase in total revenues, while total liftings decreased by 7.4%, compared to the same period last year.

During the same period, the average revenue per TEU skyrocketed 74%, compared to the first six months of 2021.

Source: https://container-news.com/oocl-sees-significant-revenue-growth-despite-drop-in-box-volumes/

Writer: Christina Perlegka 


Related News

Vietnam emerges as sole economic winner in Southeast Asia: Nikkei Asia
Vietnam emerges as sole economic winner in Southeast Asia: Nikkei Asia

2429 Views

Vietnam is shaping up as Southeast Asia's single economic success story in the coronavirus era, maintaining steady positive growth as other economies struggle to recover, Nikkei Asia reported on November 19.

FRUIT JUICE IMPORTER FILES COMPLAINT OVER HAPAG-LLOYD’S ‘UNFAIR’ D&D CHARGES
FRUIT JUICE IMPORTER FILES COMPLAINT OVER HAPAG-LLOYD’S ‘UNFAIR’ D&D CHARGES

1250 Views

Rahal claims that, between April and June 2022, Hapag issued almost $300,000 in detention/demurrage charges for empty containers – an “inconsistent” approach to charging and not compliant with the US Shipping Act.

COSCO HACKED AGAIN
COSCO HACKED AGAIN

3136 Views

Cosco Shipping, the world’s third largest containerline, is urgently trying to fix another hacking issue that has ripped through many of its staff’s email systems over the weekend.


Comment
  • Your review
main.add_cart_success