Cosco-owned Orient Overseas Container Line has maintained momentum during the second quarter of 2019.
Total box volumes for the second quarter of 2019, grew 4.6% compared with the same period last year to 1,768,848 teu, up from 1,691,538 teu a year previously. At the same time revenue surged 7.1% to US$1.566bn.
Loadable capacity increased by 6.4%. The overall load factor was 1.4% lower than the same period in 2018. Overall average revenue per teu increased by 2.4% compared to the second quarter of last year.
For the first six months of 2019, total box volumes increased 3.2% to 3,374,412 teu from 3,271,116 teu during the first half of 2018, and total revenues recorded a 6.5% growth to US$3.027bn.
The most favoured trade lane in the second quarter in terms of volume growth was the Trans-Atlantic, which saw liftings increase 16.3% to 123,472 teu up from 106,124 teu in the second quarter of 2018. The Trans-Pacific trade lane fared worse although maybe not as much as could be feared when liftings fell 0.6% to 502,505 teu from 505,712 teu a year earlier.
OOCL was in the news last week with the arrival of the OOCL Hong Kong in its home town as it joins a new trade route that will include Hong Kong for the first time since its naming two years ago.
Source:OOCL
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