OOCL expect to see healthy results in 2Q

The Board of Directors of Orient Overseas (International) Limited announced that it 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 second quarter of 2012 ended June 30th, 2012. The comparative figures for the second quarter of 2011 (ended June 30th, 2011) are also disclosed in this announcement.

For the second quarter of 2012, total volumes were 6.7% up on the same period last year. Total revenues increased by 10.6% to USD 1,560.3 million. With an increase of 7.3% in loadable capacity, the overall load factor was only 0.5% lower than the same period in 2011. Overall average revenue per TEU improved by 3.7% compared to the second quarter of last year.

For the first six months of 2012 (ended June 30th, 2012), total volumes increased by 6.1% over the same period last year and total revenues recorded a 5.0% increase.

Loadable capacity increased by 9.8%, and the overall load factor was 2.6% lower than the corresponding period in 2011. Overall average revenue per TEU decreased by 1.0% compared to the same period last year.

The OOCL Board expressed its wishes to remind investors that this operational update for the second quarter ended June 30th, 2012 is based on the Group's internal records and management accounts and has not been reviewed or audited by the auditor.

The board also reminded that investors are cautioned not to rely unduly on the operational update for the second quarter ended June 30th, 2012, and that investors are advised to exercise caution in dealing in the shares of the Company. < Korea Shipping Gazette >