Asia/Pacific News
Box Volumes, Revenues up at OOCL
Orient Overseas Container Line (OOCL) saw Q3 box volumes for the three months ended September 30, 2012 rise 3.4% to 1,360,870 twenty-foot equivalent units (TEUs), up from 1,315,496 TEU in the same period last year, its Hong Kong listed parent Orient Overseas (International) Limited [HKG:0316] said Monday.
Total revenues increased by 10.9% to $1,597.2 million, with average revenue per TEU improved by 7.2% compared to the third quarter of last year.
For the first nine months of 2012, ended September 30, 2012, total volumes increased to 3,948,130 TEU, up 5.1% from 3,755,003 in the same period last year, while total revenues recorded a 7.0% increase.
Overall average revenue per TEU increased by 1.7% compared to the same period last year, it said.
The positive news comes despite the market suffering from over supply and falling freight rates, which have lead Maersk to say it was shifting its focus away from containers, and NYK Line to say it "cannot survive based on shipping alone."
Although the rate of growth in the capacity of the global container fleet is slowing, 2013 is being tipped to be the biggest year ever for containership deliveries.
