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

DSV improves warehouse operations with drone system
DSV improves warehouse operations with drone system

1643 Views

​Autonomous drone system helps DSV minimise disruption and improve quality of warehouse operations.

EVERGREEN THE 'GREENEST' TRANSATLANTIC CARRIER, BUT IS BIGGER STILL BETTER?
EVERGREEN THE 'GREENEST' TRANSATLANTIC CARRIER, BUT IS BIGGER STILL BETTER?

1844 Views

Evergreen has topped the carbon efficiency ranking in the transatlantic trade between North Europe and the US east coast, according to the latest Xeneta ‘naming and faming’ study.

 

CONTAINERSHIP LAY-UPS CONTINUE TO SPIKE AS DEMAND SLUMP ROLLS ON
CONTAINERSHIP LAY-UPS CONTINUE TO SPIKE AS DEMAND SLUMP ROLLS ON

1228 Views

Ocean carriers have laid up nearly 50 containerships during the past month alone, as carryings and rates have continued to fall across their networks.

 


Comment
  • Your review
main.add_cart_success