News / Despite fall in liftings, OOCL sets the bar for another quarter of dynamic earnings

10/10/2022

The Q3 ocean carrier reporting season has kicked off with OOCL’s third-quarter turbo-charged operational numbers.

This bellwether data is confirmation that shipping lines have enjoyed another record quarter, while the collapse of demand in the latter weeks of the period will only impact earnings in Q4 onwards, due to the lag in voyage accounting.

Despite a 3.4% year-on-year decline in OOCL’s Q3 network liftings, to 1,748,082 teu, revenue jumped 16.9%, to just over $5bn, for an average rate per teu of $2,886 ...