OOCL Compensates Lower TEU Revenue with Volume

first_imgzoom Hong Kong-headquartered ocean carrier Oriental Overseas Container Lines (OOCL) handled 5,585,516 TEUs in 2014, an increase of 5.5% compared to 5,293,537 TEUs the company handled in 2013, according to an unaudited operational update issued today.Total annual revenues recorded a 3.5% growth, from USD 5.6 billion in 2013 to USD 5.8 billion in 2014.The company’s loadable capacity increased by 1.4%, and the overall load factor was 3% higher than the same period in 2013.However, overall average revenue per TEU decreased by 1.9% compared to the same period last year.All trade routes recorded growth both in the revenue and in the volumes, except for the Trans-Atlantic route, where OOCL recorded a 2.5% decrease in  TEUs handled, and a 2.4% dip in revenue.last_img read more

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Airbus to stop making struggling A380 superjumbo in 2021

TOULOUSE, France — European aviation giant Airbus says it will stop making its superjumbo A380 in 2021 after struggling to sell the world’s biggest passenger jet.Airbus said in a statement Thursday that Emirates is cutting back its orders for the plane and as a result “we have no substantial A380 backlog and hence no basis to sustain production.”The decision is a boon for rival Boeing and a blow for Airbus. Airbus had hoped the A380 would squeeze out Boeing’s 747 and revolutionize air travel as more people take to the skies.Instead, airlines have been cautious about committing to the costly plane, so huge that airports had to build new runways and modify terminals to accommodate it. The double-decker planes started flying in 2008 and seat more than 500 passengers.The Associated Press read more

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