ORIENT Overseas Container Line saw total revenues decrease for the quarter ended 31 December 2023.
Total revenues for the fourth quarter came to US$1.62 billion, which was a 49% decrease compared with the same period in 2022.
Total liftings increased by 7.2% and the company’s loadable capacity increased by 9.1%. The overall load factor was 1.5% lower than the same period in 2022.
OOCL’s overall average revenue per TEU decreased by 52.5% compared with the fourth quarter of last year, the company said.
“For the year ended 31 December 2023, total revenues decreased by 59.6% over the same period last year,” Overseas Orient International said.
“Total liftings increased by 2.9% and the loadable capacity increased by 8%.
“The overall load factor was 4% lower than the same period in 2022. Average revenue per TEU decreased by 60.8% compared to the same period last year.”
Orient Overseas International is the parent company of OOCL. It is headquartered in Hong Kong.
