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.
