OOIL (00316) shares rose more than 3%, reaching HK$164.6 as of press time, up 3.07%, with a turnover of HK$217 million.
On the news front, JPMorgan released a research report stating that OOIL (00316) third-quarter operational data update had a positive impact. The bank believes that ongoing port congestion can offset the impact of upcoming new vessel deliveries, helping to sustain pricing power, and maintains a positive view on the shipping ecosystem.
JPMorgan noted that OOIL (00316) third-quarter average revenue per TEU rose 33.1% year-on-year and 30% quarter-on-quarter to US$1,547. Loaded volumes increased 9% year-on-year to 2.12 million TEU, roughly flat quarter-on-quarter. Total liner revenue reached US$3.285 billion, up 45.1% year-on-year and 29.5% quarter-on-quarter. Available capacity grew only 3.6% year-on-year, while load factor improved by 4.2 percentage points, reflecting tight effective capacity and prudent capacity deployment. Trans-Pacific route revenue surged 71.8% year-on-year, now accounting for approximately 44% of liner revenue.