APL: Volumes up slightly, rates depressed

APL: Volumes up slightly, rates depressed    APL Ltd. handled 205,700 40-foot-equivalent units of containers in the four-week period ending Sept. 18, 1 percent more than in the same period last year.
   The results were reported Monday in the most recent operational update of APL’s parent company, Neptune Orient Lines.
   The slight increase was due to higher volumes on several trade lanes. But the most recent period contrasts with the company’s results for the year to date. The company has handled 1.56 million FEUs through Sept. 18 this year, 18 percent less than in the same period the prior year.
   Rates remain depressed, with revenue per container averaging $2,247 per FEU in the four-week period, down 29 percent compared to the same period the prior year. For the year to date, rates have averaged $2,316 per FEU, 23 percent below the year-earlier period, NOL said.
   Lower average revenue per FEU was due to lower core freight rates and lower bunker recovery, NOL said.