OOCL confirms the trend
Hong-Kong-based Orient Overseas Container Line’s results in Q1/2022 were in line with current developments in the shipping industry: revenues grew by 71%, while volumes went down.
In its quarterly report, the liner spoke of "severe congestion around the network" which led to a drop in "liftings by 9.2% and loadable capacity by 6.5%. The overall load factor was 2.6% lower than the same period in 2021."
Total volumes handled over the period amounted ended up at a level of almost 1.8 billion teu (1,795,876 teu). Revenues went sky-high to USD 5.16 billion.
The biggest change was felt by OOCL on its Trans-Atlantic trade route, where liftings fell 21.8% to 102,000 teu compared to the same period in 2021, while revenues took a leap of 89.2% to USD 297.8 million.
The impact on the major Trans-Pacific trade lane was comparable, since volumes declined by 15.4% to 477,000 teu, while revenue soared by 83% to USD 1.89 billion. Volumes on the Asia-Europe remained stable with a moderate increase of 1.9% to 406,000 teu, while revenues soared by 77.6% to USD 1.53 billion.
Even the Intra-Asia/Australasia trade route was no exception, though less extreme: volumes handled went down by 8.4% to 811,000 teu, while revenue grew by 49.3% to USD 1.45 billion. (cd)