Orient Overseas Container Line Reports 10% Revenue Growth

Hong Kong-based container shipping and logistics service company Orient Overseas Container Line said that its revenue in 2018 increased by 9.9% to USD 5.96 billion for all services, compared to USD 5.42 billion reported in the previous year.

"Loadable capacity increased by 7.4%. The overall load factor was 0.8% lower than the same period in 2017. Overall average revenue per teu increased by 3.4% compared to the same period last year," it said in a press release.

For the fourth quarter of 2018 (ended 31st December 2018), total volumes were 6.4% up from the same period last year.

Total revenues increased by 13.5% to US Dollars 1,566.5 million. Loadable capacity increased by 6.1%. The overall load factor was 0.2% higher than the same period in 2017. Overall average revenue per teu increased by 6.7% compared to the fourth quarter of last year.

Last year, China COSCO Shipping Corp. acquired OOCL’s parent company, Orient Overseas (International) Ltd.