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OOCL posts 110.7pc revenue increase, up 106.7pc per box

Author:   Posttime:2022-01-26

HONG KONG's Orient Overseas Container Line, a Cosco unit, posted a 110.7 per cent year-on-year revenue increase to US$15.6 billion while reporting a 101.4 per cent fourth quarter revenue increase to $4.8 billion.

Average revenue per TEU increased by 106.7 per cent compared to the same period last year. Overall average revenue per TEU increased by 142.3 per cent compared to the fourth quarter of last year.
Loadable capacity increased by 0.2 per cent. The overall load factor was 1.3 per cent higher than the same period in 2020.
"This record result was achieved despite severe congestion, which drove down liftings 16.9 per cent and loadable capacity by 14.3 per cent," said the company in a stock exchange filing.
The overall load factor was 2.7 per cent lower than the same period in 2020. Overall average revenue per TEU increased by 142.3 per cent compared to the fourth quarter of last year.

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