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Wednesday, February 21, 2024
Home Most Visited OOCL sees huge decrease in revenues amid container volume growth

OOCL sees huge decrease in revenues amid container volume growth

Orient Overseas Container Line's (OOCL's) total revenues declined by 65% in the third quarter of the year to US$1.76 billion, while the carrier's total liftings grew by 6.7% to 1.86 million TEUs.

The company's loadable capacity climbed by 13.6% in the same period, compared with the third quarter of 2022.

"When compared to the third quarter of the previous year, the average revenue per TEU fell by 67.3%," noted the COSCO-owned container shipping company in its results announcement.

Meanwhile, total revenues for the first nine months of the year have declined by 61.8% to US$5.9 billion, while OOCL's box volumes have increased by 1.5% to approximately 5.5 million TEUs.


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