Orient Overseas Container’s second quarter update released yesterday (5 July) revealed a 62.6% fall in total revenues to US$1.98bn, compared to the same period in 2022. The dramatic turnaround occurred even as liftings increased 1.3%. Loadable capacity grew by 8.7% during the quarter.
During the period April-to June overall average revenue per teu declined 63% compared to the same period last year.
For the first six months of 2023 total revenues decreased by 60.2% and total liftings fell by 1.0% over the same period last year. Loadable capacity edged up by 4.7%, while the overall load factor was 4.6% lower. Average revenue per teu decreased by 59.8%.
Source:
Hong Kong Maritime Hub
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