HONG KONG headquartered Orient Overseas (International) Limited (OOIL), the Cosco unit that owns Orient Overseas Container Line (OOCL), declared a fourth quarter 55 per cent year-on-year increase in total revenue of US$2.51 billion.
Container liftings increased 6.1 per cent and the loadable capacity increased by 4.2 per cent. The overall load factor was 1.5 per cent higher than the same period in 2023.
Overall average revenue per TEU increased 46.2 per cent compared to the fourth quarter of last year.
For the full year of 2024, revenues increased 30.2 per cent and total liftings increased 3.5 per cent over the same period last year. Loadable capacity increased 0.3 per cent. The overall load factor was 2.6 per cent higher than the same period in 2023.
Average revenue per TEU increased 25.8 per cent compared to the same period last year.
Quarterly transpacific trade was up 14.5 per cent to 551,734 TEU while Asia-Europe trade fell 6.5 per cent to 363,125 TEU.
Full year transpacific trade was up 9.9 per cent year on year to 2,076,774 TEU while Asia-Europe volume fell 10.9 per cent to 1,420,214 TEU.
https://www.shippingazette.com/news?news_id=9250100000362
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