Home » Breaking News, Maritime » OOCL’s revenue grows 11% in Q3

Hong Kong-based Orient Overseas Container Line (OOCL) said it posted revenue of US$1.6 billion for the third quarter of 2012, up by 10.9 percent from the same quarter last year.

The carrier attributed the higher revenue to improved freight rates.

No figures on the box ship’s profits were released.

For the third quarter ended last September 30,  average revenue per 20-foot-equivalent unit (TEU) improved by 7.2 percent over the third quarter of last year. Volume also grew, rising 3.4 percent to 1.36 million TEUs from 1.32 million TEUs.

With an increase of 5.3 percent in loadable capacity, the overall load factor for the third quarter of the present year was 1.3 percent lower than for the same period in 2011, the company, the container shipping unit of Orient Overseas (International) Ltd, said in a statement.

For the first nine months of the year, overall revenue jumped 7 percent to $4.47 billion from $4.18 billion from a year ago, while volumes increased by 5.1 percent to 3.95 million TEUs from 3.76 million TEUs.

Average revenue per TEU from January to September inched up by 1.7 percent compared to the same period last year. Loadable capacity increased by 8.2 percent, and overall load factor was 2.2 percent lower than for the corresponding period in 2011.

Meanwhile, OOCL  announced a general rate increase (GRI) for the Asia-U.S. trade effective December 1, 2012. The GRIs from Asia to the U.S. West Coast are US$320 per TEU, $400 per 40-foot-equivalent unit (FEU), $450 per 40-foot high-cube container, and $505 per 45-foot high-cube container.

For other U.S. locations, the new rates are higher by $480 per TEU, $600 per FEU, $675 per 40-foot HQ container, and $760 per 45-foot HQ container.



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