OOCL sees revenue up by double-digit figure

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

For the third quarter of 2012 (ended September 30th, 2012), total volumes were 3.4% up on the same period last year.

Total revenues increased by 10.9% to USD 1,597.2 million. With an increase of 5.3% in loadable capacity, the overall load factor was 1.3% lower than the same period in 2011. Overall average revenue per TEU improved by 7.2% compared to the third quarter of last year.

For the first nine months of 2012 (ended September 30th, 2012), total volumes increased by 5.1% over the same period last year and total revenues recorded a 7.0% increase.

Loadable capacity increased by 8.2%, and the overall load factor was 2.2% lower than the corresponding period in 2011. Overall average revenue per TEU increased by 1.7% compared to the same period last year.

The Board stated that it “wishes to remind investors that this operational update for the third quarter ended September 30th, 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 third quarter ended September 30th. 2012. Investors are advised to exercise caution in dealing in the shares of the company.” < Korea Shipping Gazette >