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Orient Overseas Container Line’s fourth-quarter revenues surged 55% to $2.5 billion year-on-year, according to the latest unaudited update from parent company Orient Overseas (International) Limited
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Total liftings increased 6.1% and the loadable capacity by 4.2% from the same quarter in 2023
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For the year ending December 31, 2024, total revenues soared by 30.2% to $9.8 billion from 2023 while total liftings rose by 3.5%
Orient Overseas Container Line (OOCL) fourth-quarter revenues surged 55% to $2.5 billion from the same quarter in 2023, according to the latest unaudited update from parent company Orient Overseas (International) Limited.
Total liftings increased by 6.1% and the loadable capacity by 4.2% from the same quarter in 2023.
The overall load factor was 1.5% higher than the same quarter in 2023. Overall average revenue per twenty-foot equivalent unit (TEU) jumped 46.2%.
For the year ending December 31, 2024, total revenues soared by 30.2% to $9.8 billion from 2023 while total liftings rose by 3.5%.
The average revenue per TEU advanced 25.8% in 2024.
Total liftings increased by 3.5% while loadable capacity inched up 0.3%.
The overall load factor improved by 2.6% for 2024 from 2023.
Trades
OOCL achieved robust growth in the trans-Pacific trade, with revenues soaring 61.7% to $967.5 million in the fourth quarter and liftings up 14.5%.
Full-year volumes for the transpacific trade rose 9.9% as revenues soared 53.5% to $3.9 billion.
The carrier’s largest trade lane in terms of liftings — intra-Asia/Australasia — saw fourth-quarter volumes rise 6.3%, while full-year volumes grew 7.4%.
Fourth-quarter revenues increased 44.3% to $829 million. Revenues for 2024 climbed 17.1% to $3 billion.
Volumes in the Asia-Europe trade, on the other hand, declined 6.5% in the fourth quarter and 10.9% for the entire 2024.
Even with the drops, fourth-quarter revenues soared 75.4% to $553.8 million while for the full year, it grew 44% to $2.3 billion due to higher rates.
Fourth-quarter liftings on the trans-Atlantic trade rose 11.3% but full-year volumes went south, slipping 0.6%.
The fourth-quarter revenue surge of 23% was not enough to shore up 2024 revenues, which sank 26.7% to $616 million.
