Orient Overseas (International) Limited has released an unaudited operational update for its container shipping subsidiary, OOCL, for the fourth quarter of 2024. This update includes key performance indicators such as revenue, cargo volume, and capacity utilization, and provides a comparison with the same period in 2023, reports Orient Overseas International Ltd.
Strong Performance
The company experienced significant revenue growth in the fourth quarter of 2024. Total revenues surged by 55.0% to reach US Dollars 2,513.8 million compared to the same period in 2023. This growth was driven by a 6.1% increase in total liftings, a 4.2% increase in loadable capacity, and a 1.5% improvement in the overall load factor. Notably, the average revenue per TEU saw a substantial increase of 46.2% year-over-year.
For the full year 2024, the company continued its strong performance, with total revenues increasing by 30.2% compared to the previous year. This growth was accompanied by a 3.5% increase in total liftings and a 0.3% increase in loadable capacity. The overall load factor improved by 2.6%, and the average revenue per TEU increased by 25.8% year-over-year.
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Source: Orient Overseas International Ltd
