HK's OOIL says Q2 revenue falls 43 percent

HONG KONG, July 14 (Reuters) - Shipping firm Orient Overseas (International) (0316.HK) said total revenues for the second quarter of 2009 sank 42.6 percent year-on-year to US$869.6 million as difficult trading conditions continued to hit shipping volumes and freight rates.

Total container shipping volume in the second quarter fell 18.7 percent on-year to 1.02 million 20-foot equivalent unit (TEU), the company said.

The company expects shipping volumes and rates to remain weak in the second half of the year.

For the first half of 2009, total revenues fell 37.2 percent to US$1.82 billion and container shipping volume was down 17.2 percent to 1.99 million TEUs.

For statement please click here (US$1=HK$7.8) (Reporting by Donny Kwok; editing by Jonathan Hopfner)