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
16/08
2021
Three of the largest container shipping companies in the world, Hapag-Lloyd, MSC and CMA CGM have announced new rates from/to Europe and the Meditteranean, which will be effective from August and September.
29/12
2023
Throughout November 2023, Port Houston managed nearly 3.5 million TEUs, reflecting a 5% decrease compared to the record volumes of the previous year.
02/04
2022
2M Alliance, comprising Maersk Line and MSC, will reinstate the Felixstowe port call on its AE7/Condor service, connecting Far East Asia with North Europe.