OOCL first quarter revenue up 16% 7m keo nha cai .38bn

The container shipping and logistics service company’s higher revenue was achieved on the back of 7.5% growth in volumes 7m keo nha cai 1.58m teu from 1.47m teu, with transpacific and Asia-Europe routes showing good increases in liftings and revenue.

Loadable capacity was up 16% while overall load factor was 6.4% lower than the same period in 2017. The company’s average revenue per teu increased by 8.3% compared 7m keo nha cai the year-ago period.

Liftings increased 16.3% 7m keo nha cai 457,461 teu and revenues rose 19.2% 7m keo nha cai 9m in the transpacific trades while on the Asia-Europe route, volumes rose by 20.5% 7m keo nha cai 302,679 teu and revenue was up 23.8% at 1.3m. Other container carriers had also reported brisk traffic along transpacific routes but noted that an upswing in spot freight rates came 7m keo nha cai a standstill because of growing ship capacity owing 7m keo nha cai the production of new ultra-large containerships.

OOCL, whose parent company is in the process of being sold 7m keo nha cai Cosco, managed a 13% increase in revenue 7m keo nha cai 7.3m in the intra-Asia/Australasia route although liftings declined 1.1% 7m keo nha cai 716,390 teu.

On its transtlantic services, OOCL’s volumes grew 2.2% 7m keo nha cai 103,048 teu while revenue increased 1.9% 7m keo nha cai 0.9m.

Source: Lloyd’s List