Specializing in International Freight Forwarding, by way of ocean, air, rail and truck freight-RISINGSUN

OOCL revenue off 10.1pc in 2015, but volume up 2pc to 1.3 million TEU

Time：2016-01-25 Browse：74 Author：RISINGSUN

HONG KONG`s Orient Overseas Container Line reported a 10.1 per cent year-on-year drop in 2015 revenue to US$5.2 billion while revenue per box fell 10 per cent.

The company`s operational update, made in the filing to the Hong Kong stock exchange, noted that OOCL carried 1.38 million TEU in 2015, an increase of two per cent.

But revenue in the last quarter fell 15.6 per cent year on year to $1.18 million.

OOCL`s quarterly Asia-Europe volume fell 16.4 per cent to 206,600 TEU with revenue plunging 35.6 per cent year on year.

But the transpacific trade reported a solid fourth quarter growth in volumes of 8.6 per cent though revenue fell 7.9 per cent.

Asia-Europe freight rates hit record lows during 2015, and after a reasonably strong first quarter it has been downhill the rest of the way, culminating in a peak season-less fourth quarter.

At one point forwarders were reporting having secured spot rates at $300 per FEU between Shanghai and Rotterdam.