OOIL Announces Operational Update for Q3 2020

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OOCL Hong Kong, one of the six G-Class green vessels, berthing at the Hong Kong port in Kwai Chung (Image Courtesy: OOCL)

The Board of Directors (the “Board”) of Orient Overseas (International) Limited announced unaudited operational updates for Orient Overseas Container Line (“OOCL”) for the third quarter ended 30th September 2020. The comparative figures for the third quarter ended 30th September 2019 are also disclosed in this announcement.

For the third quarter ended 30th September 2020, total volumes were 9.5% up from the same period last year. Total revenues increased by 16.3% to US Dollars 1,914.3 million. Loadable capacity increased by 5.5%. The overall load factor was 3.1% higher than the same period in 2019. Overall average revenue per teu increased by 6.2% compared to the third quarter of last year, OOIL stated.

For the first nine months ended 30th September 2020, total volumes increased by 1.6% over the same period last year and total revenues recorded a 7.8% growth. Loadable capacity decreased by 0.8%. The overall load factor was 2.0% higher than the same period in 2019. Overall average revenue per teu increased by 6.2% compared to the same period last year, the company added.

(Image Courtesy: OOIL / OOCL)

Sea News, October 23

Baibhav Mishra
Author: Baibhav Mishra