OOCL Q3 Revenues up

28 October 2010 (Last Updated October 28th, 2010 18:30)

Hong Kong-based Orient Overseas Container Line (OOCL) has reported a 65% increase in 2010 third-quarter revenues of $1.6bn, compared with $970m in the same quarter a year ago. During the quarter ending 30 September 2010, the company shipped 1.2 million TEU of box cargo, a rise of 16

Hong Kong-based Orient Overseas Container Line (OOCL) has reported a 65% increase in 2010 third-quarter revenues of $1.6bn, compared with $970m in the same quarter a year ago.

During the quarter ending 30 September 2010, the company shipped 1.2 million TEU of box cargo, a rise of 16% against 1.1 million TEU in the previous year.

OOCL said its overall average revenue per TEU increased by 42.6% when compared with the third quarter of last year.

For the first nine months of the year the company’s total volumes increased by 13.1% over the same period last year and total revenues posted a 47.8% increase.

OOCL attributed the growth to a rise in freight rates, especially on its transpacific routes.