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OOCL sales up 6.3pc to US$5.9b as volume rises 9.9pc to 6.69m TEU


HONG KONG's Orient Overseas Container Line (OOCL), now a Cosco unit, posted a 6.3 per cent year-on-year volume increase in 2018 to 6.69 million TEU which revenues of US$5.9 billion, up 9.9 per cent on the previous year.

Fourth quarter volumes were up 6.4 per cent year on year to 1.71 million TEU which produced $462.3 million in revenue, said OOCL in a Hong Kong stock exchange filing.

In terms of liftings, Asia-Europe made the biggest gains in 2018, posting of 14.4 per cent to 1.3 million TEU, which was reflected in last quarter results of 1.30 million TEU up 14.5 per cent year on year. A-E's annual revenue was up 7.7 per cent to $1.18 billion.

Coming in first by value. up 17.9 per cent to $2.06 billion in revenue, was the transpacific trade, whose volume increased 8.9 per cent to 1.8 billion TEU in 2018 while last quarter volume came in at 501,275 TEU, up 6.1 per cent.

Coming in first by volume was intra-Asia, up 2.6 per cent to 2.91 billion TEU and producing $1.82 billion in annual revenue.

Coming in last was the transatlantic trade, falling 0.9 per cent to year on year to 426,458 TEU generating annual revenue of $108,165 for the year.

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