HONG KONG's Orient Overseas (International) Ltd (OOIL), parent of Orient Overseas Container Line (OOCL), has posted a 1.7 per cent increase in first quarter revenue year on year to US$1.38 billion.

Total container volume was up 8.9 per cent, but overall revenue per TEU decreased 6.6 per cent year on year, according to the filing to the Hong Kong stock exchange.

Quarterly transpacific volumes were flat at 308,262 TEU, but revenue dropped 2.2 per cent to $468,091; Asia-Europe volumes were up 9.7 per cent to 226.717 TEU with revenue rising to $282,317.

Transatlantic volumes were down 1.1 per cent to 94,100 TEU with revenues falling 4.4 per cent to $143,534 while intra-Asia/Australasia trade was up 14.5 per cent to 722,971 TEU with revenues rising 4.2 per cent to $493,579.