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Orient Overseas' container unit sees 11% up in Q3 revenue

Oct. 23, 2012 (China Knowledge) - Orient Overseas (International) Ltd<0316>, Hong Kong's main container transporter and logistics service provider, has announced its container transport units realized US$1.6 billion in revenue in the third quarter of this year, reflecting a YoY increase of 10.9%.

From July to September, the Hong Kong listed company saw its container transport volume rose 3.4% YoY to 1.36 million twenty-foot equivalent units (TEUs).

In the first nine months of this year, Orient Overseas' container transport unit generated US$ 4.47 billion in total revenue, 7% more than it realized in the corresponding period of 2011.

Meanwhile, its container transport volume for the nine-month period grew 5.1% YoY TO 3.95 million TEUs.

In the first half of this year, the company realized US$116.8 million in net profit, down 33% from a year earlier, which was mainly affected by lower freight charges and higher fuel price.

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