OOCL’s revenues, volumes rise in Q3

The Hong Kong-based container carrier moved 1.71 million TEUs and recorded revenues of $1.56 billion for the third quarter of 2018.

OOCL’s revenues, volumes rise in Q3

The Hong Kong-based container carrier moved 1.71 million TEUs and recorded revenues of $1.56 billion for the third quarter of 2018.

OOCL’s revenues, volumes rise in Q3

The Hong Kong-based container carrier moved 1.71 million TEUs and recorded revenues of $1.56 billion for the third quarter of 2018.

 
Container carrier Orient Overseas Container Line (OOCL) moved 1.71 million TEUs in the third quarter of 2018, up 6.9 percent from the same period last year, according to OOCL's parent company, Orient Overseas (International) Ltd. (OOIL).
    OOCL’s revenues in the third quarter of 2018 totaled $1.56 billion, 7 percent more than in the third quarter of 2017.
    Now majority-owned by COSCO, OOCL is usually one of the first container carriers to report quarterly results. It posted strong growth in the transpacific trade, both in the amount of cargo moves, as well as revenues. Liftings on the transpacific trade were up 7.3 percent year-over-year in the third quarter of 2018 to 509,436 TEUs and revenues were up 15.5 percent to $651 million.
    On the Asia-Europe trade, OOCL’s liftings rose 10.4 percent to 328,786 TEUs, but revenues fell 0.1 percent to $305 million.
    On the transatlantic trade, liftings fell 1.6 percent to 109,121 TEUs, but revenues were up 3.8 percent to $132 million.
   On the intra-Asia/Australasia trades, liftings grew 6.6 percent to 762,851 TEUs while revenues rose 2.3 percent to $467 million.
I am in the middle of a very heavy high season in terms of bids. I have never seen anything like it.
Spot container rates from Shanghai to North Europe stood at $906 per TEU as of Feb. 15, while rates from Shanghai to the Mediterranean totaled $920 per TEU, down 5.6 percent and 4.4 percent, respectively, from a week prior, according to the Shanghai Containerized Freight Index.
Most Popular
Latest News
Social Media

Loading...

Commentary: Brokers workhorses of tariff changes

Commentary: Brokers workhorses of tariff changes

Embed this story

Share Code Version 1

This version will embed the story headline and includes HTML fallback protection, ensuring the story will display even if some users decide to disable javascript in their browsers.

Code:

Copy & Paste the following code to embed this story on your website.

Preview

OOCL’s revenues, volumes rise in Q3

The Hong Kong-based container carrier moved 1.71 million TEUs and recorded revenues of $1.56 billion for the third quarter of 2018.

By Chris Dupin on Oct 29, 2018AmericanShipper.com

Share Code Version 2

This version will embed the story headline without any styling applied. Use this version if you will use your own custom styling on your website. This version also includes HTML fallback protection.

Code:

Copy & Paste the following code to embed this story on your website.

Preview

OOCL’s revenues, volumes rise in Q3

The Hong Kong-based container carrier moved 1.71 million TEUs and recorded revenues of $1.56 billion for the third quarter of 2018.

By Chris Dupin on Oct 29, 2018AmericanShipper.com