Home » Breaking News, Maritime » OOCL’s 3Q volumes rise but revenues skid over faltering trans-Pacific rates

OOCL’s total volumes in the third quarter of 2011 ended September 30, 2011 went up but its total revenues decreased, reflecting falling freight rates in the trans-Pacific routes.

The Hong Kong-based box carrier’s unaudited operational update shows overall volumes inched up 6.6 percent in the third quarter to 1.315 million 20-foot equivalent units (TEUs) from 1.233 million for the same period last year. Total revenues, however, fell by 8.3 percent to US$1.44 million from $1.57 million year-on-year.

Trans-Pacific revenues for the third quarter contracted by 19.1 percent from last year, while Asia-Europe earnings declined by 23.2 percent. Trans-Atlantic and intra-Asia/Australasia revenues grew by 18 percent and 8.5 percent, respectively.

With loadable capacity increasing by 13.9 percent during the quarter than a year ago, the overall load factor was 5.1 percent lower than for the same period in 2010. Overall average revenue per TEU dropped by 14 percent compared to the third quarter of last year.

For the first nine months of 2011 ended September 30, total volumes increased by 8.4 percent over the same period last year, and total revenues recorded a 2.1 percent increase.

Loadable capacity increased by 16.3 percent, and the overall load factor was 5.5 percent lower than the corresponding period in 2010. Overall average revenue per TEU decreased by 5.8 percent compared to the same period last year.

 

Photo from OOCL

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