OOCL saw it revenues slightly climbed in 1Q

The Board of Directors of Orient Overseas International Limited (OOIL) 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 first quarter of 2012, ended March 31st.

The comparative figures for the first quarter of 2011 (ended March 31st, 2011) are also disclosed in this announcement. For the first quarter of 2012, total volumes increased 5.4% from the same period last year.

Total revenues decreased by 0.9% to USD 1,317.2 million. With a 12.6% increase in loadable capacity, the overall load factor was 5.0% lower than the same period in 2011. Overall average revenue per TEU decreased by 6.0% compared with the same period last year.

The Board wishes to remind investors that this operational update for the first quarter ended 31st March 2012 is based on the Group’s internal records and management accounts and has not been reviewed or audited by the auditor.

Investors are cautioned not to rely unduly on the operational update for the first quarter ended March 31st, 2012. Investors are advised to exercise caution in dealing in the shares of the company. < Korea Shipping Gazette >