OOCL’s Q1 revenue show 58% y-o-y decline in ongoing normalisation of liner earnings

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For the first quarter ended 31st March 2023, OOCL”s total revenues decreased by 57.8% to USD 2,175.5 million, as compared to the same period in 2022. Total liftings decreased by 3.2% but the loadable capacity increased slightly by 0.7%. Overall load factor was 3.3% lower than the same period in 2022.

Overall average revenue per TEU decreased by 56.4% compared to
the first quarter of last year but showed some sharp rehional variations.

Trans-Pacific liftings declined 6.4% y-o-y while revenue was down 65.6%. Asia / Europe liftings were down 4.4% while revenue was down 67.9% and intra-Asia / Australasia lifting fell 4.3% while revenue was down 49.9%.

Only OOCL’s Trans-Atlantic results improved with liftings up 25.5% and rates also slightly ahead, by 4.7%.

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