News

     HONG KONG, JAN 24: Orient Overseas (International ) Ltd (OOIL) has announced fourth quarter revenue fell 22.7 per cent to $ 1.07 billion, attributing losses to volume declines of its container unit, Orient Overseas Container Line (OOCL), whose final quarter box liftings fell 4.1 per cent year on year.

       That brought full-year OOCL 2009 revenue down 35.2 per cent year on year to $ 3.84 billion, said the company in a statement to the Hong Kong stock exchange. Full year 2009 container volumes decreased 14 pc year on year. “The overall load factor was 3.8 pc lower than the corresponding  period of 2008 despite a decrease of 9.6 pc in loadable capacity during this year. Overall average revenue per TEU decreased 24.7 pc compared with the same period last year,” said the company statement. Transpaciflc fourth quarter liftings totalled 306,055 TEU, down 0.7 pc while full-year volume came to 1,324,382 TEU, down 12.6 pc  year on year.

           Asia-Europe fourth quarter lifings totalled 174,959 TEU, down 6.9 pc while full-year volume came to 678,869, TEU down 16.5 pc year on year. Transatlantic fourth quarter liftings came to 90,400 TEU, down 11.3 pc while full-year volume came to 349,308 TEU, down 17.7 pc year on year IntraAsia -Australasin fourth quarter liftings came to 525,021 TEU, down 3.7 pc while full-year volume came to 1,972,410 TEU, down 13.2 pc year on year. Total fourth quarter liftings came to 1,096,435 TEU, down 4.1 pc while full-year liftings came to 4,158,487 pc. Revenue from the last quarter  on the transpacific trade came to US $ 383,926, down 30.1 pc while full-year sales on the trade came to $ 1,492,576, down 33.3 pc year on year. Revenue from the last quarter on the Asia-Europe trade came to $221,550, down 15.6 pc while full-year sales came to $ 1,331,675, off 48.3 pc year on year, Revenue from the last quarter on the transatlantic trade came to $ 126,211, down 32.4 pc while full-year sales came to $ 487,988 749,722, off 34.9 pc year on year. Revenue from the last quarter on the IntraAsia-Australasia trade came to $ 338,502, down 12.4 pc while full -year sales came to $ 1,612,143, off 27.2 pc year on year.