-
Overall volumes rose by double digits and revenues more than doubled in the first half and in the second quarter of this year compared to the same periods a year ago
-
Total volumes jumped 19.5% in the first six months and 15.4% in the second quarter compared to the same periods last year
-
Total revenues recorded a 107.6% growth in the first six months and a 119.0% expansion in the second quarter compared to the same periods the preceding year
-
Overall average revenue per TEU was up by 73.8% in the first half and by 89.7% in the second quarter year-on-year
Container carrier Orient Overseas Container Line (OOCL) notched an impressive first half for 2021 as its total volumes rose by double digits and its revenue more than doubled compared to the first six months a year ago. The same uptrend was reported for the second quarter of this year.
OOCL carried total volumes of 3.927 twenty foot equivalent units (TEUs) in the first six months, an increase of 19.5% from 3.29 million TEUs transported in the same period last year, parent company Orient Overseas (International) Limited said in a release.
Total revenues in the first half reached US$6.49 billion to record a 107.6% growth from last year. Overall average revenue per TEU increased by 73.8% compared to the same period year-on-year.
The intra-Asia/Australasia trade lane showed the biggest jump in volumes, rising 24.3% in the first six months of this year as against the same period the preceding year. This was followed by the Asia/Europe trade, recording a 19.8% growth, while the trans-Pacific volume soared 19.5%. Only the trans-Atlantic logged flat growth in the first half.
The biggest winner in terns of revenue booked was Asia/Europe, posting a 183.4% growth to earn $1.88 billion, followed by intra-Asia/Australia with a 100.8% growth to $1.99 billion, the trans-Pacific with an 88.4% hike to $2.23 billion, and the trans-Atlantic with a 36.0% expansion to $393,356.
Loadable capacity from January to June 2021 increased by 13.7%. The overall load factor was 4.2% higher than for the same period in 2020.
Meanwhile, for the second quarter, Hong Kong-based OOCL carried total volumes of 1.95 million TEUs, up 15.4% from the same period last year.
Total revenues increased by 119.0% to $3.47 billion in the second quarter, and overall average revenue per TEU increased by 89.7% compared to the same quarter of last year.
The top gainer in volume terms was intra-Asia/Australasia with 20.5% growth, followed by Asia/Europe (+19.4%), and trans-Pacific (+9.9%). The trans-Atlantic route fell into negative territory with a 2.8% contraction for the period reviewed.
The Asia/Europe trade lane scored a 203.6% growth in terms of revenue with $1.02 billion recorded, while intra-Asia/Australia lane registered a 110.3% growth to $1.02 billion and trans-Pacific recorded a 91.5% growth with $1.20 billion. Finally the trans-Atlantic posted a 68.4% rise in revenue to $235,938 in the second quarter year-on-year.
Loadable capacity increased by 12.4%. The overall load factor was 2.2% higher than for the same period in 2020.
International container shipping lines have been achieving outstanding financial results since the latter part of 2020 as carriers continue to post unprecedented spikes in freight rates as a result of a combination of surging global demand and tight shipping capacity even as pandemic effects and disruptions such as port congestion have been rocking the industry and the global supply chain.
Photo from OOCL
