The liner carrier OOCL said in an operational update Friday that revenue across all its major trades dropped in the first half of 2013, as a particularly hard second quarter took its toll.
Revenue as a whole fell 3.7 percent year-on-year in the first half to $2.7 billion, and by 9.8 percent in the second quarter to $1.4 billion. OOCL’s Asia-Europe revenue was particularly hard hit, dropped 24.9 percent in the second quarter to $245.6 million.
Transpacific and transatlantic revenue fell 6.5 and 6.4 percent, respectively, in the second quarter, while OOCL’s intra-Asia and Australasia trades saw a 5 percent fall.
Part of the fall in revenue has been a reduction in volumes across all of OOCL’s trades outside of intra-Asia/Australia, which the line’s larges trade by volume. In the first half, volume fell 7.2 percent on the transatlantic, 4 percent in the transpacific, and 2.7 percent on Asia-Europe. As a whole, the line’s first half volume fell 1.5 percent to 2.5 million TEUs.
OOCL said its overall load factor was 2.4 percent lower than the same period in 2012, while overall average revenue per TEU decreased by 2.2 percent.
The line doesn't release profit details in its operational updates. - Eric Johnson