[030211.EN.SEA] OOCL's Revenue Up 46.1pc To US$5.6 Billion In 2010

HONG KONG's Orient Overseas (International) Limited (OOIL), reported that its carrier Orient Overseas Container Line (OOCL) had a 2010 revenue increase of 46.1 per cent year on year to US$5.6 billion while cargo volume rose 14.6 per cent to reach 4.76 million TEU, according to its filing with the Hong Kong stock exchange.

Loadable capacity grew 4.5 per cent, while the overall load factor was 7.2 per cent higher than the same period in 2009. Average revenue per TEU was up 27.5 per cent year on year, according to its operational update.

For the fourth quarter of 2010, volume was up 18.9 per cent over the same period in 2009. Revenue soared 41.9 per cent to $1.5 billion. The loadable capacity came to a 22 per cent increase, while the overall load factor was two per cent less than in the same period in 2009. Overall average revenue per TEU rose 19.4 per cent against the fourth quarter of 2009.

Its annual liftings in the intra-Asia and Australasia market saw the largest growth of 21.2 per cent to 2.39 million TEU, followed by the Asia-Europe service with a leap of 16.9 per cent to 793,315 TEU. The transpacific trade lane recorded a 5.8 per cent increase to 1.22 million TEU.

But the transpacific service was still a cash cow, making an annual revenue of $2.03 billion, up 36.3 per cent year on year. Asia-Europe trade lane was the fast growing market with a surge of 86.5 per cent year on year with $1.28 billion revenue. Intra Asia and Australasia market also contributed $1.71 billion in revenue, up 45.5 per cent.

Source : HKSG, 28.01.11.