OOCL posts results for 2021
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, according to the company's release.
This announcement sets out the unaudited operational update for OOCL for the fourth quarter ended 31st December 2021. The comparative figures for the fourth quarter ended 31st December 2020 are also disclosed in this announcement.
For the fourth quarter ended 31st December 2021, total revenues increased by 101.4% to US Dollars 4,880.5 million, as compared to the same period in 2020. This record result was achieved despite severe congestion around the network, which drove down liftings by 16.9% and loadable capacity by 14.3%.
The overall load factor was 2.7% lower than the same period in 2020. Overall average revenue per TEU increased by 142.3% compared to the fourth quarter of last year. For the year ended 31st December 2021, total revenues recorded growth of 110.2% and total liftings increased by 1.7% over the same period last year. Loadable capacity increased by 0.2%.
The overall load factor was 1.3% higher than the same period in 2020. Average revenue per TEU increased by 106.7% compared to the same period last year.
