OOCL saw its revenues up in 4Q 2012

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 fourth quarter of 2012 (ended December 31st, 2012). The comparative figures for the fourth quarter of 2011 (ended December 31st, 2011) are also disclosed in the announcement.

For the fourth quarter of 2012 (ended December 31st, 2012), total volumes were 0.7% down from the same period the previous year. Total revenues increased by 5.6% to USD 1,423.8 million.

With an increase of 5.7% in loadable capacity, the overall load factor was 4.6% lower than the same period in 2011. Overall average revenue per TEU improved by 6.4% compared to the fourth quarter of last year.

For the full year of 2012 (ended December 31st, 2012), total volumes increased by 3.7% over the same period the previous year and total revenues recorded a 6.7% increase. Loadable capacity increased by 7.6%, and the overall load factor was 2.8% lower than the corresponding period in 2011. Overall average revenue per TEU increased by 2.9% compared to the same period the previous year.

The Board reminded investors that this operational update for the fourth quarter ended December 31st, 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 fourth quarter. Investors are advised to exercise caution in dealing in the shares of the company. < Korea Shipping Gazette >