OOCL: high earnings with similar volumes
Chinese liner OOCL, an affiliate of Cosco Shipping since 2018, has released its results for Q4/2021 and the full year 2021. For Q4/2021, revenues rose by 101.4% to USD 4.9 billion compared to the same period in 2020.
Nevertheless, liftings declined by 16.9%, loadable capacity by 14.3% and the load factor was down by 2.7%, which the company attributed to "severe congestion around the network" in a press release. Yet, average revenue per teu increased by 142.3% compared Q4/2020. For the full year, revenues more than doubled (+110%), rising to almost USD 15.7 billion in 2021, compared to USD 7.6 billion in 2020.
The development in volumes was much more modest: 7.59 million teu were handled in 2021, just 1.7% more than in 2020 (7.46 million). The key to success was again the average revenue per teu, which increased by 106.7% compared to last year. (sh)