In the third quarter 2022, Hong Kong's Orien Overseas Container Line saw revenue increase by 16.9% to US$5.04bn, compared to the same period in 2021. The surge in revenue was in contrast to a 3.4% fall in loadings and 1.8% drop in loadable capacity.
After three quarters total revenue has grown 43.4% as liftings fell 6.2% and loadable capacity contracted by 4.9%. Average revenue per teu over the period grew 52.9%.
The earnings/liftings dichotomy was at its most extreme on the transpacific trade lane where liftings fell 14.4% as revenue increased by 21.5%. The Asia-Europe trade fared poorest with a 1.4% decline in. revenue which was accompanied by a 7.3% fall in liftings.
The continued growth occurs as Drewry's World Container Index reached US$3,689 per feu on 6 October, an 8$ fall on the week before and a 64% decline compared to a year earlier. OOCL's earnings remain ring-fenced for now because most of its business is on term contracts that renew each year.
Source:
Hong Kong Maritime Hub
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