APL continues volumes, rate slump

APL continues volumes, rate slump Neptune Orient Lines said its APL subsidiary moved 137,800 40-foot equivalent units in the four-week period ending March 6, a 21 percent drop in volume from the similar 2008 period.
   NOL, which reports volumes 12 times a year in regular operational updates, said that in the first two periods this year, volumes have totaled 326,200 FEUs, off 30 percent from the comparable 2008 period.
   Rates are also lower, averaging $2,382 per FEU, off 16 percent from the comparable 2008 period. For the year as a whole, rates have averaged $2,535 per FEU, off 14 percent from the comparable 2008 period.
   NOL said the decrease in volume was due to the continued deterioration in demand for all major trade lanes. Lower average revenue per FEU was due to declining core freight rates and lower bunker recover, it added.