OOCL compensates lower TEU revenue with volume

Hong Kong-headquartered ocean carrier Oriental Overseas Container Lines (OOCL) handled 5,585,516 TEUs in 2014, an increase of 5.5% compared to 5,293,537 TEUs the company handled in
2013, according to an unaudited operational update issued today. Total annual revenues recorded a 3.5% growth, from USD 5.6 billion in 2013 to USD 5.8 billion in 2014. The company’s loadable capacity increased by 1.4%, and the overall load factor was 3% higher than the same period in 2013. However, overall average revenue per TEU decreased by 1.9% compared to the same period last year. All trade routes recorded growth both in the revenue and in the volumes, except for the Trans-Atlantic route, where OOCL recorded a 2.5% decrease in TEUs handled, and a 2.4% dip in revenue.