ORIENT OVERSEAS Container Line has reported a bumper fourth quarter in calendar 2024 and a very strong full year, in preliminary results released late last week.
For the fourth quarter ended 31 December 2024, total revenues increased by 55.0% to USD 2,513.8 million, as compared to the same period in 2023.
Total liftings increased by 6.1% and the loadable capacity increased by 4.2%. The overall load factor was 1.5% higher than the same period in 2023. Overall average revenue per TEU increased by 46.2% compared to the fourth quarter of last year.
For the year ended 31 December 2024, total revenues increased by 30.2% and total liftings increased by 3.5% over the same period last year. Loadable capacity increased by 0.3%. The overall load factor was 2.6% higher than the same period in 2023. Average revenue per TEU increased by 25.8% compared to the same period last year.
In the Intra-Asia/Australasia trade, OOCL saw Q4 liftings grow 6.3% from 894,602 TEU in 2023 to 951,398 TEU in 2024, while 12-month liftings were up 7.4% from 7,338,117 TEU for 2023 to 7,595,476 TEU for 2024.
Q4 2024 revenue for this trade was up 44.3% to USD 828,907,000 compared to USD 574,391,000 in 4Q 2023. Full year revenue for 2024 was up 17.1% from USD 2,541,007,000 to USD 2,975,731,000.
The Board wishes to remind investors that the operational update for the fourth quarter ended 31 December 2024 is based on the Group’s internal records and management accounts and has not been reviewed or audited by the auditor.
The company on Saturday [11 January] celebrated the naming of the 16,828 TEU OOCL Sunflower at Dalian COSCO KHI Ship Engineering Co., Ltd, the third in a series of 10.
OOCL Sunflower will be serving OOCL’s Trans-Pacific Trade ECX1 service, which operates Hong Kong / Yantian / Xiamen / Shanghai / New York / Savannah / Charleston / Laem Chabang / Cai Mep / Hong Kong in a 91-day round trip.
