Hong Kong-based line Orient Overseas Container Line (OOCL) announced its revenues for the first quarter had fallen 31.2 per cent to US$954.2m, down from US$1.4bn in the same period last year.
The revenue drop corresponded to a fall in transported volume to 978,162 TEU, as compared to almost 1.2m TEU the same period last year.
Asia-Europe services were the worst hit, reported Lloyd’s List, with revenue dropping 56.4 per cent to US$149.8m between January and March. Container volume fell 14.4 per cent.
Australasian and intra-Asia routes also suffered revenue drops of 30.4 per cent to US$263.2m, with a drop in volume of 16.5 per cent to 449,107 TEU.
Revenues from transatlantic routes fell 22.4 per cent to US$131.2m, down from US$168.9m last year, trailing behind a 14.4 per cent fall in volume to 85,378 TEU.
Total vessel capacity declined 1.2 per cent as ships were laid up.
