In the third quarter of the year, Orient Overseas Container Line (OOCL) witnessed a 65% drop in total revenues, settling at $1.76 billion, even as the carrier’s total container shipments increased by 6.7% to reach 1.86 million TEUs.
Orient Overseas Container Line
The company’s loadable capacity climbed by 13.6% in the same period, compared with the third quarter of 2022.
“When compared to the third quarter of the previous year, the average revenue per TEU fell by 67.3%,” noted the COSCO-owned container shipping company in its results announcement.
Meanwhile, total revenues for the first nine months of the year have declined by 61.8% to US$5.9 billion, while OOCL’s box volumes have increased by 1.5% to approximately 5.5 million TEUs.
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Source- Container News
