Orient Overseas (International) Ltd said on Tuesday revenues from its container shipping unit fell 42.3 percent in the third quarter, showing a slump in global trade continued to hurt sea carriers.
Orient Overseas Container Line (OOCL) posted total revenue of $948.9 million in July-Sept, taking total revenue for the first nine months to $2.77 billion, down 39 percent, it said in a statement.
Average revenue per TEU (twenty-foot equivalent unit) decreased by 30.7 percent in the third quarter from the same period last year, it said in an unaudited operational update.
OOCL's load factor fell 4.8 percent in the nine-month period despite an 11.5 percent decrease in loadable capacity, it added.
Orient Overseas Container Line (OOCL) posted total revenue of $948.9 million in July-Sept, taking total revenue for the first nine months to $2.77 billion, down 39 percent, it said in a statement.
Average revenue per TEU (twenty-foot equivalent unit) decreased by 30.7 percent in the third quarter from the same period last year, it said in an unaudited operational update.
OOCL's load factor fell 4.8 percent in the nine-month period despite an 11.5 percent decrease in loadable capacity, it added.