OOCL revenue to surge by 15% for Q3 year on year

The Orient Overseas (International) Limited Board of Directors has adopted a policy of announcing unaudited operational updates for Orient Overseas Container Line (OOCL) on a quarterly basis.

This announcement sets out the unaudited operational update for OOCL for the third quarter of 2008 (ended September 30th, 2008). The comparative figures for the third quarter of 2007 (ended September 30th, 2007) are also disclosed in this announcement.

For the third quarter of 2008, total volumes were 5.9% ahead of the same period last year. Total revenues increased by 15.6% to USD 1,644.6 million. With only a 1.9% increase in loadable capacity, the overall load factor was 3.0% higher than the same period of 2007. Overall average revenue per TEU increased by 9.2% compared with the third quarter of last year.

For the first nine months of 2008, total volumes increased by 8.2% over the same period last year and total revenues recorded a 21.3% increase. Despite an increase of 8.8% in loadable capacity, the overall load factor was maintained at similar levels to the corresponding period in 2007. Overall average revenue per TEU increased by 12.1% compared with the same period last year.