HONG KONG's though registered in Bermuda, Orient Overseas (International) Limited (OOIL) fourth quarter revenues fell 34.8 per cent year on year to US$3.18 million, the company announced in a Hong Kong stock exchange filing.
Transpacific volumes were down 14.5 per cent to 1,772,737 TEU in 2022 year on year while Asia-Europe services were only down four per cent to 1,576,801 TEU. Intra-Asia was down 1.9 per cent to 3,329,841 TEU. Transatlantic was down 5.9 per cent to 449,979 TEU in 2022.
Portfolio-wide liftings and loadable capacity of OOIL, now a Cosco unit, whose principal holding is Orient Overseas Container Line (OOCL), decreased 5.6 per cent and 2.6 per cent respectively.
The overall load factor was 2.7 per cent lower than the same period in 2021. Overall average revenue per TEU decreased 30.9 per cent compared to the fourth quarter of last year.
For the year ending December 22, total revenues grew 19.1 per cent and total liftings decreased six per cent over the same period the year before. Loadable capacity decreased by 4.3 per cent. The overall load factor was 1.5 per cent lower than the same period in 2021.
Average revenue per TEU increased by 26.7 per cent compared to the same period the year before.
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