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First-quarter revenues showed a spectacular 96% growth compared to the same period a year ago
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Total volumes surged to 1.98 million TEUs, a 23.8% growth from the same period in 2020
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Overall average revenue per TEU increased by 58.3% compared to the first quarter of last year,
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The trans-Pacific posted the biggest revenue at US$1.03 billion, an 85% expansion, while the Asia-Europe trade saw a whopping 162.6% growth rate to register $859.6 million
Container shipping liner Orient Overseas Container Line (OOCL) has posted impressive first-quarter operational results, registering a 96% growth in total revenues across all trades and a 24% increase in total volumes compared to the same period in 2020.
Hong Kong-headquartered OOCL’s aggregate revenues ballooned to US$3.02 billion, a 96% expansion from the $1.5 billion logged in the first three months of 2020 when the COVID-19 outbreak began to spread globally.
Total volumes surged to 1.98 million twenty-foot equivalent units (TEUs) in the period January to March 2021, a 23.8% growth from 1.60 million TEUs a year ago, according to data released by parent company Orient Overseas (International) Limited.
Overall average revenue per TEU increased by 58.3% year-over-year, as freight rates soared on a combination of surging demand for containerized goods, port congestion, container equipment shortage and tight capacity.
The overall load factor was 6.2% higher than in the same period in 2020.
Of the four trade lanes serviced by OOCL, the trans-Pacific posted the biggest revenue at $1.03 billion, an 84.9% expansion from the $558 million recorded in Q1 a year ago. Volumes grew 25.3% to 563,471 TEUs from 449,790 TEUs in January to March 2020.
Revenue from the Asia-Europe trade grew a huge 162.6% to $859.6 million from $327.3 million a year ago, while liftings rose 20.1% to 398,345 TEUs from 331,675 TEUs.
The intra-Asia/Australia lane registered revenue of $968.7 million, up 91.6% from $505.5 million in the first quarter of last year. It had the fastest volume growth rate among the four lanes with a 28.4% uptick to 885,901 TEUs, up from 689,922 TEUs transported in the same period last year.
The trans-Atlantic trade, meanwhile, saw revenue climb 5.6% to $157.4 million from $149.1 million in the same period of the preceding year. Liftings grew 2.8% to reach 130,593 TEUs from 127,035 TEUs year-on-year.
Photo from OOCL
