Hong Kong's OOCL reported an 11.6 per cent first quarter revenue increase to US$1.08 billion from the $971.7 million it generated during the same period last year, according to a company statement.

The company enjoyed a 33.8 per cent rise in container volume, as well as a 42 per cent increase from the Asia-Europe trade, with first quarter revenues of $245.6 million.

But revenue per TEU fell 4.7 per cent, and transpacific revenue also declined 4.5 per cent year on year to $415.2 million, again on rising volumes, up 2.9 per cent to 293,222 TEU.

Transatlantic revenue, though, increased 7.3 per cent on a 10 per cent increase in volume of 89,439 TEU, generating a quarterly revenue of $141.9 million. Regional revenue - intra-Asia and Australasia - rose 21.6 per cent to $281.6 million on a volume of 463,393 TEU, up 23.3 per cent.