OOCL confirms trends on liftings and revenues
In container shipping, the gap between volumes and revenues keeps widening. Q3/2023 results of the carrier OOCL, an affiliate of Cosco Shipping, confirmed this trend.
Over the third quarter ending on 30 September 2023, the carrier's total revenues decreased by 65.1% to USD 1.76 billion, as compared to the same period in 2022. Yet, the volumes handled increased by 6.7% (1.87 million teu), while the loadable capacity increased by 13.6%.
The overall load factor was 5.1% lower than in Q3/2022. Overall average revenue per teu decreased by 67.3% compared to Q3/2022 last year.
For the first nine months of 2023, total revenues decreased by 61.8% to USD 5.9 billion over the same period last year (USD 15.5 billion). Total liftings increased by 1.5% to 5,47 million teu against 5.38 million teu in the same period last year. The average revenue per teu fell by 62.4% over the last nine months. (cd)