NOL: Volume up, but rates still below 2008
Neptune Orient Lines, the parent of American President Lines, said it handled 208,000 FEUs in the four-week period ending Nov. 13, up 23 percent from the same 2008 period.
Rates, however, averaged $2,239 per FEU, 28 percent lower than the average in the same period a year earlier.
“The increase in volume was mainly due to higher volumes lifted in several trade lanes,” the company said, without providing details. “Lower average revenue per FEU was due to lower core freight rates and lower bunker recovery.”
Year to date, volumes are off 12 percent and freight rates are, on average, 24 percent below those of 2008.
NOL: Volume up, but rates still below 2008
