The Board of Directors of Orient Overseas (International) Limited has released the unaudited operational update for Orient Overseas Container Line (OOCL) for the first quarter ended March 31st, 2025, according to the company's release.
For the first quarter of 2025, total revenues increased by 16.8% to US Dollars 2,313.7 million compared to the same period in 2024.
Total liftings saw a 9.3% increase, reaching 1,963,429 TEU. Concurrently, loadable capacity grew by 8.5%. The overall load factor experienced a slight increase of 0.6% compared to the first quarter of 2024.
The overall average revenue per TEU rose by 6.9% year-over-year.
Performance highlights by service category for Q1 2025 versus Q1 2024 are as follows:
-Trans-Pacific: Liftings increased by 23.8% to 556,275 TEU; Revenue increased by 21.9% to US$895,274 thousand.
-Asia / Europe: Liftings increased by 4.1% to 344,257 TEU; Revenue increased by 2.3% to US$504,822 thousand.
-Trans-Atlantic: Liftings increased by 8.1% to 135,694 TEU; Revenue increased by 10.4% to US$170,300 thousand.
-Intra-Asia / Australasia: Liftings increased by 7.4% to 927,203 TEU; Revenue increased by 24.2% to US$743,311 thousand.
Orient Overseas (International) Limited (OOIL) is an investment holding company, incorporated in Bermuda in 1986 and headquartered in Hong Kong. Its primary business activity is container transportation and logistics services, mainly conducted through its subsidiary, OOCL. It also historically had interests in terminal operations and property investments. Formerly listed on the Hong Kong Stock Exchange, OOIL was acquired by COSCO SHIPPING Holdings Co., Ltd. in July 2018 and is now part of the COSCO group.
Orient Overseas Container Line (OOCL) is the main operating entity and a wholly-owned subsidiary of OOIL. Founded initially as Orient Overseas Line in 1947 and rebranding to OOCL in 1969, it is a major global brand in integrated international container transport and logistics. Headquartered in Hong Kong, OOCL operates a network covering Asia, Europe, the Americas, Africa, and Australasia. Since the 2018 acquisition of its parent company by COSCO SHIPPING Holdings, OOCL operates under a "dual-brand" strategy alongside COSCO SHIPPING Lines within the larger group.