Orient Overseas Container Line’s first quarter volume revenue slipped 0.9 percent to $1.3 billion despite a 5.4 percent rise in volume from a year earlier.
Average revenue per container fell 6 percent.
The Hong Kong-based carrier said that with a 12.6 percent increase in loadable capacity, its ships’ load factor fell 5 percent.
Volume totaled 1.244 million 20-foot-equivalent units, and increased in all of OOCL’s trade lanes. Revenues rose by more than 11 percent in the trans-Atlantic and intra-Asia-Australasia trades but fell in the company’s larger trans-Pacific and Asia-Europe trades.
Trans-Pacific revenue fell 4.4 percent to $452.6 million on a 3.4 percent increase in liftings to 306,571 TEUs. Asia-Europe revenue plunged 21.2 percent to $219 million despite a 3.2 percent increase in volume to 202,452 TEUs.