Orient Overseas (International) Limited reported improvements in the total volumes and revenues for the second quarter of 2014 of its container shipping unit compared with the same period last year.
In an official release, the Hong Kong-listed company said Orient Overseas Container Line (OOCL) recorded total volumes of 1.45 million twenty-foot-equivalent units (TEUs) for the second quarter ended June 30, 2014, up 11.2 percent from the 1.3 million liftings registered for the same quarter in 2013.
Total revenues increased by 6.8 percent to US$1.5 billion. Loadable capacity increased by 2.1 percent. The overall load factor was 6.5 percent better than for the same period in 2013.
Overall average revenue per TEU, however, dropped by 4 percent compared to the second quarter of last year.
For the first six months of 2014 ended June 30, 2014, total volumes increased by 10.1 percent to 2.8 million TEUs from the same period last year and total revenues recorded a 4.3 percent increase to US$2.89 billion.
Loadable capacity increased by 2.9 percent. The overall load factor was 5 percent higher than the same period in 2013. Overall average revenue per TEU decreased by 5.3 percent compared to the same period last year.
In related developments, the carrier said it will raise its ocean freight rates for its Southeast Asia-Australia services from August to sustain basic operating costs.
With effect from August 15, freight rates for traffic from Southeast Asia, the Indian Sub-Continent, and the Middle East to Australia will be increased by US$200 per TEU and $400 per FEU for both dry and refrigerated cargo in the base ocean freight.
Its Southeast Asia coverage includes Singapore, Thailand, Indonesia, Vietnam, Cambodia, Philippines, and Myanmar.
“This increase will apply on top of existing ongoing market rates and will be subject to accessorial surcharges applicable at the time of shipment,” said OOCL.
The container liner also announced it will hike the equipment imbalance surcharge (EIS) imposed on inbound shipments at Hai Phong, Vietnam.
It will increase the EIS to US$80 per TEU for inbound cargoes on vessel arrival at the port effective from August 10 on a collect basis.
