Orient Overseas (International) Limited said it carried 4.4% more containers in the second quarter from the same period a year ago.
The gain was generally in line with global container volumes for the quarter.
The Hong Kong-based parent (0316.HK) of Orient Overseas Container Line, a unit of China’s Cosco, said liner revenue fell 6.5% y/y to $2.12 billion for the quarter ending June 30 as revenue per twenty foot equivalent unit slid 10.4%, from $1,205 to $1,079 per TEU. The largest decline was seen on Asia-Europe services, down 17.2%.
Loadable capacity was 7.5% higher while the overall load factor fell by 2.4%.
For the first six months ended June 30, liner revenue increased by 4.4% and total liftings increased by 6.8% y/y. The carrier’s capacity was 8% higher, while the load factor fell 0.9%. Average revenue per TEU was off by 2.2% compared to a year ago.
Find more articles by Stuart Chirls here.
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