Hong Kong's Orient Overseas Container Line (OOCL) reported 10% higher volumes lifted for the fourth quarter of 2013 rising to 1.4m teu from 1.3m teu in the same period last year, the company said in a stock market announcement.

However, despite the increase in volumes, total revenues decreased by 1.6% to $1.40bn from $1.42bn previously. Loadable capacity increased by 2.9% while the overall load factor was 4.9% higher than the same  period in 2012. Overall average revenue per teu dropped by 10.5% compared to the fourth of 2012.

Echoing the lacklustre year the container liner industry has had, for the full year OOCL saw total volumes increasing by just 1.5% over 2012 and ravaged margins saw total revenues falling 4.9% to $5.61bn from $5.90bn previously as overall average revenue per teu fell 6.3% compared to the year before.

Loadable capacity increased by 1.4%. The overall load factor was the same as the corresponding period in 2012.

Unsurprisingly the worst hit sector was Asia-Europe where revenue fell 6.7% and 11.4% for the fourth quarter and over the full year respectively.