Orient Overseas International Limited (OOIL) has released its unaudited operational update for OOCL for the third quarter ended on 30 September 2023.
The Board of Directors (the Board) of OOIL has adopted a policy of announcing unaudited operational updates for Orient Overseas Container Line (OOCL) on a quarterly basis.
For the third quarter ending on 30 September 2023, overall average revenue per TEU decreased by 67.3 per cent compared to the third quarter of last year, while total revenues decreased by 65.1 per cent to $1.75 billion, as compared to the same period in 2022.
Total liftings also increased by 6.7 per cent and the loadable capacity increased by 13.6 per cent. The overall load factor was 5.1 per cent lower than the same period in 2022.
READ: OOCL launches China-Cambodia-Thailand service
For the first nine months of 2023, average revenue per TEU decreased by 62.4 per cent compared to the same period last year, and total revenues decreased by 61.8 per cent over the same period last year.
Total liftings increased by 1.5 per cent and the loadable capacity increased by 7.6 per cent. The overall load factor was 4.8 per cent lower than the same period in 2022.
In September 2023, OOCL added another mega containership to its fleet, ‘OOCL Zeebrugge’, the fifth environmentally friendly 24,188 TEU vessel in a series of 12.
More recently, OOCL won the Best Shipping Line – Intra-Asia’s title at the 2023 Asian Freight, Logistics and Supply Chain (AFLAS) Awards’ ceremony.
