HONG KONG's Orient Overseas (International) Limited (OOIL), a Cosco unit, posted a 52.4 per cent year-on-year second quarter revenue increase to US$5.28 billion, the company announced in a stock exchange filing.
"This record result was achieved despite severe congestion, which drove down liftings 5.6 per cent and loadable capacity 6.1 per cent year on year; the overall load factor was 0.5 per cent higher," said the company statement.
But year-on-year quarterly liftings were down 7.4 per cent to 3.63 million TEU, said OOIL.
Average first half revenue per box increased 61.5 per cent year on year, said OOIL, whose principal holding is the Orient Overseas Container Line (OOCL).
First half transpacific revenue showed the strongest growth, up 78 per cent to $3.96 million while quarterly increases were up 73 per cent to $2.02 million year on year.
First half Asia-Europe revenue was up 70 per cent to $2.92 million while quarterly increases were up 55 per cent to $2.02 million year on year.
First half Intra-Asia / Australasia revenue was up 45 per cent to $2.9 million while quarterly increases were up 42 per cent to $1.45 million year on year.
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