OOCL logs Q4 growth in all lanes except Transpacific


Orient Overseas Container Line (OOCL) reported overall growth for the fourth quarter of 2019 in both volume and sales, with all lanes except the Trans-Pacific posting increases.

In the fourth quarter ended December 31, 2019, total volumes carried reached 1.799 million twenty-foot equivalent units (TEUs), 4.8% up over the same period last year, according to parent company Orient Overseas (International) Limited (OOIL).

The Trans-Atlantic loop registered a double-digit increase in liftings with 12.7%, followed by Asia-Europe at 8.7% and Intra-Asia/Australasia at 5.9%. Trans-Pacific trade volume fell 1.1% in Q4 compared to a year ago.

Total revenues for October-December 2019 increased by 2.3% to US$1.603 billion from the same quarter of the preceding year. Again, all lanes except the Trans-Pacific expanded. The Intra-Asia/Australasia trade revenue grew the most at 10.8%. The Trans-Atlantic route had a 9.9% growth while Asia-Europe expanded 2.6%.

Trans-Pacific revenue contracted 5.2% in the fourth quarter as against the same months in 2018.

OOCL’s loadable capacity increased by 2.6% in the last quarter of 2019, while the overall load factor was 1.8% higher than in the same period in 2018. Overall average revenue per TEU decreased by 2.4% compared to the fourth quarter of last year, said OOIL.

Meanwhile, for full-year 2019, total volumes increased by 3.8% over the same period the year before and total revenues recorded a 5.2% growth.

Trans-Atlantic had the biggest growth in volume with 12.0% more TEUs lifted, followed by Asia-Europe with 9.3% increase and Intra-Asia/Australasia posting a 3.1% increment.

Trans-Pacific volumes carried declined 0.4% in full-year 2019 as compared to 2018.

For full-year 2019, Trans-Atlantic recorded a 15.3% increase in revenue as against 2018, Intra-Asia/Australasia expanded 6.1%, and Asia-Europe rose 3.9%. The Trans-Pacific saw revenue rise 3.1% in 2019 compared to the previous year.

OOCL’s loadable capacity increased by 4.0%. The overall load factor was 0.1% lower than the same period in 2018. Overall average revenue per TEU increased by 1.3% compared to the same period last year.