Suche

High freight rates drive up turnover at OOCL

Orient Overseas Container Line (OOCL) increased its turnover by 30.2% in 2024 thanks to a strong transpacific business.

The Hong Kong-listed parent company Orient Overseas International Ltd (OOIL) reported revenue growth from US$7.5bn in the previous year to US$9.8bn. Transport volumes, on the other hand, only increased by a rather “meagre” 3.5%.

The higher revenue resulted from the increase in freight rates, particularly in transpacific traffic. In this trade alone, OOCL grew by 53.5% to US$3.9bn compared to US$2.5bn in the previous year.

The company’s results for the fourth quarter were similar: Revenue increased 55% to US$2.5bn, compared to US$1.6bn in the same period last year. During this period, the liner shipping company transported almost two million TEU, an increase of 6.1% compared to the same period last year.

The average total revenue per TEU increased by 46.2% compared to the last three quarters of the previous year. In the fourth quarter, however, the greatest growth was achieved between Asia and Europe. Revenue there rose by 75.4% to US$553.8m compared to US$315.8m in the previous year), with the volume of transport actually falling by -6.5% to 363,125 TEU.

Related Articles

A broad alliance of German businesses, chambers and tax consultants is calling for a binding...

The maritime economy continues to be one of the largest industries in the world. As...

An OECD report shows the central importance of the ocean in terms of value creation...

The Institute of Chartered Shipbrokers (ICS) has officially accredited the Abu Dhabi Maritime Academy (ADMA)...

The IMO’s “Net Zero Framework”, which aims to reduce emissions in the shipping industry, has...

The German-Danish ferry operator Scandlines has extended its cooperation with the German Nature and Biodiversity...

hansa-newsletter-logo

Get an overview of the week’s most important news directly to you inbox:

Copyright: @ OOCL

Caption: OOCL wants to work with partners such as Ikea and Kyocera to promote low-carbon shipping with biofuel.