OOCL 3rd Quarter reports

HONG KONG : ORIENT OVERSEAS CONTAINER LINE has reported a very strong third quarter for 2024, with total revenue, liftings and revenue per container all showing significant improvement year-on-year.

In an unaudited operational update issued to the Hong Kong Stock Exchange yesterday [7 October] OOCL said for the third quarter ended 30 September 2024, total revenues increased by 73.7% to USD 3,056.3 million, as compared to the same period in 2023.

Total liftings increased by 3.6% and the loadable capacity decreased by 1.6%. The overall load factor was 4.2% higher than the same period in 2023. Overall average revenue per TEU increased by 67.6% compared to the third quarter of last year.

For the first nine months of 2024, total revenues increased by 23.4% and total liftings increased by 2.6% over the same period last year. Loadable capacity decreased by 1.0%. The overall load factor was 3.0% higher than the same period in 2023. Average revenue per TEU increased by 20.3% compared to the same period last year.

OOCL groups the Intra-Asia and Australasia  trades together and reported carriage of 922,219 TEU in 3Q2024, compared to 875,423 TEU in 3Q2023. This was a 5.3% increase. For the nine-month period liftings rose 7.7% to 2,667,573 TEU, compared to 2,476,335 TEU in the equivalent nine months.

Reflecting a period of very strong rates revenue rose to USD 880,130 million from 593,740 million in 3Q2023, a 48.2% increase.  Nine-month revenue was up 9.2% to USD 2,146,824 million from 1,966,615 in the nine months to 30 September 2023.