OOCL’s revenues fall despite container volume uptick

SINGAPORE : In the first quarter of 2024, the total revenues of Orient Overseas Container Line (OOCL) decreased by 9% year-over-year to US$2 billion.

At the same time, the carrier’s total liftings increased by 3.4% to 1.8 million TEUs, with the loadable capacity also showing a growth of 2.2%. Additionally. the overall load factor experienced a 0.9% increase compared to the same period in 2023.

OOCL said the average revenue per TEU decreased by 12% compared to the first quarter of the previous year.