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OOCL's revenue fell sharply in 2023 despite container liftings growth
OOCL's container ship (Photo: OOCL)
COSCO-owned container shipping line OOCL (Orient Overseas Container Line) saw Q4 2023 revenue plummet 49% compared to Q4 2022, reporting $1.62 billion.
During the same period, OOCL's total liftings increased 7.2% and load capacity increased 9.1%, while overall load factor was 1.5% lower compared to the same period in 2022. As a result, average revenue The overall average per TEU decreased by 52.5% compared to the fourth quarter of last year.
Additionally, OOCL announced total revenue for 2023 of $7.5 billion, representing a sharp decline of 59.6% year-on-year.
The Hong Kong-based ocean carrier shipped 7.33 million TEUs in 2023, a growth of 2.9% compared to 2022 container liftings. In 2023, load capacity increased by 8%, while the overall load factor was 4% lower than in 2022. Additionally, average revenue per TEU in 2023 was down 60.8% compared to last year.
OOCL's Output and Revenue in 2023 (Source: OOCL)
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Source: Phaata.com (According to OOCL)
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