Hong Kong-listed container shipping liner Orient Overseas Container Line (OOCL) saw declines in its overall volume and sales in both the second quarter and first half of 2015, according to its mother company Orient Overseas (International) Limited.
For the second quarter ended June 30 this year, OOCL registered a contraction in total volumes of 2.1% compared to the same period last year. The biggest slide was on the Asia-Europe lane, where liftings fell 11.8% to 224,004 twenty-foot equivalent units (TEUs). The trans-Pacific registered a drop of 3.6% to 324,883 TEUs, and the trans-Atlantic fell 8% to 92,670 TEUs.
The bright spot was the intra-Asia/Australasia loop where TEUs carried rose 2.6% to 780,851 TEUs.
Total revenues also decreased in the second quarter, sliding by 9.3% to US$1.362 billion. All four trade lanes suffered, with the Asia-Europe lane registering the biggest deceleration at 28.1%. intra-Asia/Australasia followed by falling 6.4%, while trans-Atlantic and trans-Pacific deflated in revenue 3.2% and 3%, respectively.
The loadable capacity for the second quarter increased by 7.1%, while the overall load factor was 6.8% lower than for the same period in 2014. Overall average revenue per TEU fell 7.4% compared to the second quarter of last year.
Meanwhile, for the first six months of 2015 ended June 30, total volumes decreased by 2.3% from the same period last year and total revenues recorded a 6.4% drop. All four trade lanes went down in volume of TEUs carried, while the revenue plunged deepest for Asia to Europe with a 15.6% fall, followed by intra-Asia/Australasia with a contraction of 5.4%, then the trans-Atlantic with a negative 4%, and trans-Pacific with a 2.6% setback.
Loadable capacity for H1 increased by 2.8%. The overall load factor was 3.8% lower than the same period in 2014. Overall average revenue per TEU decreased by 4.2% compared to the same period last year.
