OOCL loses market share on Asia-EU but soaring rates prop up top line
The impact of soaring spot freight rates made itself felt on OOCL’s top line after ...
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Cosco-owned OOCL has released its Q2 24 update, in which it said:
“For the second quarter ended 30th June 2024, total revenues increased by 14.4% to US Dollars 2,264.6 million, as compared to the same period in 2023. Total liftings increased by 0.9% and the loadable capacity decreased by 3.4%. The overall load factor was 3.6% higher than the same period in 2023. Overall average revenue per TEU increased by 13.4% compared to the second quarter of last year.”
It added:
“For the first six months ended 30th June 2024, total revenues increased by 2.2% and total liftings increased by 2.1% over the same period last year. Loadable capacity decreased by 0.7%. The overall load factor was 2.3% higher than the same period in 2023. Average revenue per TEU was similar to the same period last year.”
The full release is here.
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