In an operational update, OOCL said total volumes for the three months to the end of March went down 2.5% year-on-year.

The company carried 1.32m teu against 1.35m teu during the corresponding period of 2014.

Quarterly revenue sat at $1.34bn, a decrease of 3.2% which was attributed to weaker contribution from all routes that OOCL operates.

Following the announcement, shares in OOCL went down a fraction at HKD 50.95