Home » Breaking News, Maritime » OOCL revenue, freight slide in second quarter

Orient Overseas Container Line (OOCL) saw its revenue fall in the second quarter of 2013 as cargo volumes slid during the period.

The Hong Kong-headquartered shipping line said container volume for the second quarter ended June 30, 2013 fell 2.6 percent to 1.31 million 20-foot-equivalent units from 1.34 TEUs in the comparative period of 2012.

Revenues in Q2 likewise decreased, slipping by 9.8 percent to US$1.41 billion against $1.56 billion in the second quarter of the previous year. Loadable capacity increased by 0.8 percent and load factor dropped 2.6 percent.

Average revenue per TEU dropped by 7.3 percent from April to June 2013 year-over-year, an official company statement said.

For the first six months of 2013, cargo throughput decreased by 1.5 percent to 2.55 million TEUs from 2.59 million TEUs for the same period last year. For the same period, revenue contracted 3.7 percent to $2.77 billion from $2.88 billion in the same period last year.

Loadable capacity increased by 1.8 percent, while the load factor was 2.4 percent lower than in January-June 2012.

Average revenue per TEU decreased by 2.2 percent compared to the first half of last year.


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