OOCL quarterly box volume off 4.1pc, full year falls 35pc

HONG KONG's Orient Overseas (International) Ltd (OOIL) has announced fourth quarter revenue fell 22.7 per cent to US$1.07 billion, attributing losses to volume declines of its container unit, Orient Overseas Container Line (OOCL), whose final quarter box liftings fell 4.1 per cent year on year.

That brought full-year OOCL 2009 revenue down 35.2 per cent year on year to $3.84 billion, said the company in a statement to the Hong Kong stock exchange.

Full-year 2009 container volumes decreased 14 per cent year on year. "The overall load factor was 3.8 per cent lower than the corresponding period of 2008 despite a decrease of 9.6 per cent in loadable capacity during this year. Overall average revenue per TEU decreased 24.7 per cent compared with the same period last year," said the company statement.

Transpacific fourth quarter liftings totalled 306,055 TEU, down 0.7 per cent while full-year volume came to 1,324,382 TEU, down 12.6 per cent year on year.

Asia-Europe fourth quarter liftings totalled 174,959 TEU, down 6.9 per cent while full-year volume came to 678,869, TEU down 16.5 per cent year on year.

Transatlantic fourth quarter liftings came to 90,400 TEU, down 11.3 per cent while full-year volume came to 349,308 TEU, down 17.7 per cent year on year.

IntraAsia-Australasia fourth quarter liftings came to 525,021 TEU, down 3.7 per cent while full-year volume came to 1,972,410 TEU, down 13.2 per cent year on year.

Total fourth quarter liftings came to 1,096,435 TEU, down 4.1 per cent while full-year liftings came to 4,158,487, off 14 per cent.

Revenue from the last quarter on the transpacific trade came to US$383,926, down 30.1 per cent while full-year sales on the trade came to $1,492,576, down 33.3 per cent year on year.

Revenue from the last quarter on the Asia-Europe trade came to $221,550, down 15.6 per cent while full-year sales came to $1,331,675, off 48.3 per cent year on year.

Revenue from the last quarter on the transatlantic trade came to $126,211, down 32.4 per cent while full-year sales came to $487,988 749,722, off 34.9 per cent year on year.

Revenue from the last quarter on the IntraAsia-Australasia trade came to $338,502, down 12.4 per cent while full-year sales came to $1,612,143, off 27.2 per cent year on year.

(Source: www.schednet.com)