OOCL's cargo volume rose 9.5% in Q3

OOCL released its third-quarter operating summary on Oct. 23.

During the reporting period, OOCL’s cargo volume rose 9.5% from a year earlier, while revenue rose 16.3% to $1.914 billion.

In terms of routes, in the third quarter, OOCL’s cargo volume and revenue of the main routes have increased significantly.

The freight volume of the Pacific route increased 11.1% year-on-year to 586,102 TEUs. Revenue rose 18.4% to $825 million.

Cargo volume on the Asia-Europe line increased by 6.9% to 391,407 TEUS. Revenue jumped 25.5% to $395 million.

Freight traffic on Atlantic routes increased 22.6% to 141,584 TEU. Earnings edged up 2.4% to $151 million.

Cargo volume between Asia and Australia grew 7.6% to 830,729 TEUs. Revenue rose 11.5 percent to $542 million.

In addition, OOCL’s capacity increased 5.5% year on year in the third quarter, with overall carrier rate up 3.1% and overall average earnings per TEU up 6.2 per cent.

In the first three quarters of this year, OOCL's cargo volume grew 1.6% from a year earlier and its earnings rose 7.8%. Capacity fell 0.8%, with overall load factor up 2.0% and overall average earnings per TEU up 6.2 per cent.

Source: Sarah Yu, XINDE MARINE NEWS

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