Orient Overseas (International) Limited (OOIL) has announced operational updates for Orient Overseas Container Line (OOCL) for the second quarter 2023.
For the second quarter ended 30 June 2023, total revenues at OOCL decreased by 62.6 per cent to $1.9 billion, as compared to the same period in 2022.
Total liftings increased by 1.3 per cent and the loadable capacity increased by 8.7 per cent.
The overall load factor was 5.9 per cent lower than the same period in 2022, according to the company.
READ: OOIL revenues double in 2021
Overall average revenue per TEU decreased by 63 per cent compared to the second quarter of last year.
For the first six months ended 30 June 2023, total revenues decreased by 60.2 per cent and total
liftings decreased by 1 per cent over the same period last year.
Loadable capacity increased by 4.7 per cent. The overall load factor was 4.6 per cent lower than the same period in 2022.
Average revenue per TEU decreased by 59.8 per cent compared to the same period last year.
In August 2022, OOIL witnessed a strong financial and operating performance for the first half the year, as market forces pushed freight rates upwards.
More recently, in June 2023, Orient Overseas Container Line Ltd. (OOCL) welcomed a new 24,188 TEU container vessel to join its fleet.
