Orient Overseas (International) Limited (OOIL) has once again posted a spectacular set of results, with Q1 earnings (for the period ended March 31) up by 71% - $5160.4 million compared to $3018.4 in Q1 2021.
“This record result was achieved despite severe congestion around the network, which drove down liftings by 9.2% and loadable capacity by 6.5%,” a spokesman said.
But while the overall load factor was 2.6% lower than the same period in 2021, overall average revenue per TEU increased by a whopping 88.3% compared to the first quarter of last year.
