Peter T. Leach | Jan 27, 2011 3:54PM EST
OOCL's revenue jumped 41.9 percent to $1.5 billion in the fourth quarter on strong gains in demand and pricing, parent OOIL said Wednesday.
Fourth quarter revenue was slightly lower than the $1.57 billion the Hong Kong-based container line posted for the third quarter of 2010. Overall average revenue per TEU, an indicator of pricing strength, grew 19.4 percent in the fourth quarter over the year before and 27.5 percent for the full year.
OOCL's volume in the three months ending Dec. 31, 2010 grew18.9 percent to 1.3 million 20-foot equivalent units from 1.1 million TEUs in the same quarter of 2009 and slightly higher sequentially than the 1.2 million TEUs it carried in the third quarter of last year.
The loadable capacity of OOCL's container fleet increased 22 percent year-over-year by the fourth quarter of 2010, lowering the overall figure for capacity utilization 2 percentage points from the same period in 2009. Overall revenue per TEU was 19.4 percent higher in the fourth quarter of 2010 than a year earlier,
For the full year, total revenue jumped 46.1 percent to $5.6 billion from $3.8 billion in 2009. Total volume in 2010 increased 14.6 percent to 4.8 million TEUs from 4.2 million in 2009.
The carrier's loadable capacity for 2010 increased 4.5 percent from 2009, and overall capacity utilization expanded 7.2 percentage points.
-- Contact Peter T. Leach at pleach@joc.com.