APL says rates 29% lower than a year ago

APL says rates 29% lower than a year ago    Container carrier APL continued to see sharply lower freight rates when compared to the same period their prior year, according to the monthly operational update provided by its parent, Neptune Orient Lines.
   NOL said that average revenue per 40-foot equivalent unit was $2,219 in the four week period ending July 24, 29 percent below the same 2008 period.
   The carrier said it carried 187,400 FEUs during the four weeks, 11 percent less than in the comparable 2008 period.
   “The decrease in volume was due to the decline in demand on nearly all major trade lanes. Lower average revenue per FEU was due to lower core freight rates and lower bunker recovery,” NOL said.