OOCL reports a weak end to 2014


Orient Overseas Container Line (OOCL) has announced its financial results for the fourth quarter ended December 31, 2014. It reported that total revenues decreased by 0.2% to $1,398.9m as volumes fell by 2.6% from the same period of 2013. Meanwhile loadable capacity decreased by 1.3% and the overall load factor was 1.0% lower than Q4 2013. Overall average revenue per TEU increased by 2.5% compared to the fourth quarter of last year.

For the full year ended December 31, 2014, OOCL reported that total volumes increased by 5.5% year-on-year while total revenues recorded 3.5% growth. The overall load factor was 3.0% higher than the same period in 2013 even though the company also increased its loadable capacity by 1.4%. Overall average revenue per TEU decreased by 1.9% year-on-year.

For both the quarterly and full year period the primary drivers of growth were the transpacific Asia/ Europe lanes. The Intra-Asia/ Australasian trade suffered the biggest declines, especially in Q4 where revenue slipped by 6.0%.

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