Asia/Pacific News
OOCL Sees Q4 Revenue Climb
Orient Overseas (International) Limited (OOIL) [HKG:0316] says forth quarter revenues for its liner business, Orient Overseas Container Line (OOCL), have risen despite a slight downturn in overall volumes.
Based on its internal, unaudited accounts for the three month ended December 31, 2012, compared to the same period in 2011 its total revenues increased by 5.6 percent to $1.42 billion, despite a 0.7 percent dip in total volumes.
Overall average revenue per twenty-foot equivalent unit (TEU) for the period improved by 6.4 percent year-on-year.
The overall load factor was 4.6 percent lower than the same period in 2011, but OOIL said OOCL had made an increase of 5.7 percent in loadable capacity.
OOCL's Asia / Europe routes saw the biggest percentage increase in revenues for the quarter, growing 17.8 percent to $271.37 million from only a 2.8 percent increase in TEUs lifted.
Trans-Atlantic routes were the only segment with negative revenue growth, falling 10.4 percent to $152.8 million after a 7.4 percent drop in container volume.
The news follows October's announcement by the firm that for the three months ended September 30, 2012 there was a 3.4 percent rise year-on-year in volumes, revenues were up 10.9 percent, and average revenue per TEU improved by 7.2 percent compared to the third quarter of 2011.
For the full 12 months ended December 31, 2012 compared to 2011, total volumes increased by 3.7 percent to 5,217,234 TEU, total revenues gained 6.7 percent to $5.898 billion, and loadable capacity increased by 7.6 percent.
The overall load factor was 2.8 percent lower in 2012 than in 2011, OOIL said, while overall average revenue per TEU increased by 2.9 percent compared to the same period in 2011.
OOIL did not expand on how the performance translated into profit for the firm, and cautioned investors to not rely unduly on the operational update.
