THE FIRST of the major container lines to report calendar 2024 second quarter results, OOCL has seen significant improvement year-on-year as well as for the first half.
Released by Hong Kong exchange-listed parent Orient Overseas (International) Limited (in turn controlled by China’s COSCO Group) the unaudited operational updates for the second quarter ended 30June 2024, show total revenues increased by 14.4% to US$2,264.6 million, as compared to the same period in 2023.
Total liftings increased by 0.9% and the loadable capacity decreased by 3.4%, while the overall load factor was 3.6% higher than the same period in 2023. Overall average revenue per TEU increased by 13.4% compared to the second quarter of last year.
For the first six months ended 30 June 2024, total revenues increased by 2.2% and total liftings increased by 2.1% over the same period last year. Loadable capacity decreased by 0.7%. The overall load factor was 2.3% higher than the same period in 2023. Average revenue per TEU was similar to the same period last year, OOCL said.
Intra-Asia /Australasia trade reached 881,935 TEU in 2Q 2024, v. 824,957 TEU in 2Q 2023, representing growth of 6.9%. For 1H 2024 total volume was 1,745,354 TEU v. 1,600,912 in 2023, or 9.0% growth.
Revenue for Intra-Asia / Australasia was US$668,310 in 2Q 2024, up 3.1% from 2Q 2023’s $648,498; while for 1H 2024 total revenue reached US$ 1,266,694, a 7.7% decline on 2023’s 1H of $1,372,875.
