OOCL volumes and revenues down as freight rates fall

Hong-Kong based shipping line, Orient Overseas Container Line (OOCL) has suffered a poor set of interim results with total volumes and revenues down across all its global trades.

Over the first half of the year, total volumes fell by 2.3% to 2.74m teu compared to the same period in 2014 while total revenues recorded a 6.4% drop to US$2.71bn.

Low freight rates and depressed demand have beset the worldwide container industry in 2015 and the former is reflected in the 4.2% decrease of average revenue per teu against last year’s results.