Orient Overseas (International) Line has once again posted record earnings, with total revenue for the third quarter ending September 30 up from US$1 914.3 last year to US$4 313.7 this year. The overall load factor was 0.4% higher than the same period last year, while average revenue per TEU increased by 142.7%.
These are figures that will not sit well with shippers struggling to stay afloat in the face of unrelenting pressure on capacity and unprecedented rate escalation.
According to the line, severe congestion around the network drove down liftings by 7.2% and loadable capacity by 7.6%.
For the first nine months of the year, total revenues grew 114.4% and total liftings increased by 9.6%. Loadable capacity was up 5.9%.
The overall load factor was 2.9% higher, while average revenue per TEU increased by 95.6%.