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OOCL Q2 revenue up 52% to over $5bn

"Severe congestion around the network drove down liftings by 5.6 percent to 1.8 million TEUs.”

OOCL Q2 revenue up 52% to over $5bn
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Orient Overseas Container Line (OOCL) reported a 52 percent increase in total revenue to $5.3 billion for the second quarter ended June 30, 2022 compared to the same period in 2021.

"The record result was achieved despite severe congestion around the network, which drove down liftings by 5.6 percent and loadable capacity by 6.1 percent. The overall load factor was 0.5 percent higher than the same period in 2021," says an official statement.

Overall average revenue per TEU increased nearly 62 percent compared to the second quarter of last year.

"For the first six months ended June 30, 2022, total revenue increased 61 percent and total liftings decreased 7.4 percent over the same period last year. Loadable capacity decreased by 6.3 percent. The overall load factor was 1.1 percent lower than the same period in 2021. Average revenue per TEU increased by 74 percent compared to the same period last year."

Trans-Pacific revenue increased 74 percent to over $2 billion even as liftings dropped over 12% to 474,851 TEUs in Q2FY2022. Asia-Europe revenue was up 36 percent to $1.4 billion on 2 percent drop in liftings at 402,836 TEUs.

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