According to Alphaliner, Hong Kong-based Orient Overseas Container Line (OOCL) has reported unaudited revenue of $5.1 billion in the first quarter of 2022, topping the previous two quarters and setting a new record for shipping. far east line This, considering that OOCL reported quarterly revenue of $4.9 billion in Q4 2021 and $4.3 billion in Q3 2021.
Compared to the last quarter of 2021, revenue was higher in three of the company’s four business segments, with only transatlantic service earning less during the first quarter than in the previous three months, Alphaliner reports (see chart by Alphaliner below)
Alphaliner reports that revenues on the transpacific increased 7% compared to October-December despite flat surveys. Revenue also increased by the same amount in intra-Asia/Australasia operations, OOCL’s largest segment by volume.
Although average rates per teu increased 7% in January-March compared to the previous quarter, this would indicate even better financial results for shipping lines.
OOCL’s updated operating rates show an average of USD 2,873 per teu for the COSCO-owned line in the period from January to March 2022. This compares with USD 2,673 per teu in the period from October to December of the same year. .
The result was achieved despite severe congestion that limited container movement. This was most evident on the ocean liner, where volumes fell 10% compared to the previous quarter. However, movement on the transpacific was largely unchanged from the previous three months, falling less than 1%. Finally, the profit per container in the transpacific service reached USD 3,963 per teu during the same period.
Source: Alphaliner
