Quarterly Unaudited Operational Updates For Orient Overseas Container Line Released

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The Board of Directors (the “Board”) of Orient Overseas (International) Limited (the “Company”) has adopted a policy of announcing unaudited operational updates for Orient Overseas Container Line (“OOCL”) every quarter. This announcement sets out the unaudited operational update for OOCL for the first quarter ended 31st March 2024. The comparative figures for the first quarter ended 31st March 2023 are also disclosed in this announcement.

Revenue Comparison 

For the first quarter ended 31st March 2024, total revenues decreased by 9.0% to US Dollars 1,980.3 million, as compared to the same period in 2023. Total liftings increased by 3.4% and the loadable capacity increased by 2.2%. The overall load factor was 0.9% higher than the same period in 2023. The overall average revenue per TEU decreased by 12.0% compared to the first quarter of last year.

Caution Statement 

The Board wishes to remind investors that this operational update for the first quarter ended 31st March 2024 is based on the Group’s internal records and management accounts and has not been reviewed or audited by the auditor. Investors are cautioned not to rely unduly on the operational update for the first quarter ended 31st March 2024. Investors are advised to exercise caution in dealing with the shares of the Company. 

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Source: Ooilgroup