OOCL revenues plunge in 2023, amid solid container growth

COSCO-owned Orient Overseas Container Line (OOCL) has seen a huge 49% decrease in its fourth quarter revenues, compared to 2022 Q4, reporting US$1.62 billion.

In the same period, OOCL’s total liftings increased by 7.2% and the loadable capacity increased by 9.1%, while the overall load factor was 1.5% lower than in the same period in 2022. As a result, the overall average revenue per TEU decreased by 52.5% compared to the fourth quarter of last year.

Furthermore, OOCL has announced overall revenues for 2023 of US$7.5 billion, translating to a significant 59.6% year-over-year decline.

The Hong Kong-based ocean carrier moved 7.33 million TEUs in 2023, representing a growth of 2.9% compared to 2022 box volumes. In 2023, the loadable capacity increased by 8%, while the overall load factor was 4% lower than in 2022. Additionally, the average revenue per TEU in 2023 decreased by 60.8% compared to the last year.

Source: Container News


Related News

Covid-19 hits Ningbo, fears of “the next Yantian”
Covid-19 hits Ningbo, fears of “the next Yantian”

Liner operators have advised customers to expect delays following the closure of Ningbo Meishan Island International Container Terminal (MSICT) after a worker there tested positive for Covid-19.

Evergreen buys more containers
Evergreen buys more containers

Evergreen Marine Corporation announced on 6 August that it will buy 10,000 containers from Dong Fang International Container (Hong Kong).

ONE opens dedicated container depot in Hamburg
ONE opens dedicated container depot in Hamburg

The Singaporean carrier Ocean Network Express (ONE) and the container services provider Universal Container Services GmbH (UCS) have strengthened their partnership by opening a dedicated ONE container depot in the Port of Hamburg.


main.add_cart_success