• ITVI.USA
    16,014.360
    14.660
    0.1%
  • OTLT.USA
    2.799
    -0.006
    -0.2%
  • OTRI.USA
    22.430
    0.240
    1.1%
  • OTVI.USA
    15,995.600
    10.280
    0.1%
  • TSTOPVRPM.ATLPHL
    2.930
    -0.020
    -0.7%
  • TSTOPVRPM.CHIATL
    3.620
    0.010
    0.3%
  • TSTOPVRPM.DALLAX
    1.330
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    3.570
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.390
    0.070
    3%
  • TSTOPVRPM.LAXSEA
    4.130
    0.020
    0.5%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    16,014.360
    14.660
    0.1%
  • OTLT.USA
    2.799
    -0.006
    -0.2%
  • OTRI.USA
    22.430
    0.240
    1.1%
  • OTVI.USA
    15,995.600
    10.280
    0.1%
  • TSTOPVRPM.ATLPHL
    2.930
    -0.020
    -0.7%
  • TSTOPVRPM.CHIATL
    3.620
    0.010
    0.3%
  • TSTOPVRPM.DALLAX
    1.330
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    3.570
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.390
    0.070
    3%
  • TSTOPVRPM.LAXSEA
    4.130
    0.020
    0.5%
  • WAIT.USA
    127.000
    0.000
    0%
American Shipper

NOL: Rates continue to tumble

NOL: Rates continue to tumble

   Neptune Orient Line said its average freight rates are continuing to fall, to $2,190 per 40-foot equivalent unit in the four-week period ending June 26, 29 percent below the same period one year ago.

   Volumes were 172,200 FEUs, 14 percent below the same period last year.

   “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,” the company said in its monthly operational update.

   Year to date, the company said shipping volumes total 970,600 FEUs, off 24 percent from the prior year. Rates have averaged $2,375 per FEU year to date, 20 percent below the prior year period.

   Earlier this month, the Transpacific Stabilization Agreement announced plans for a $500 per FEU rate hike. But APL noted a few days later whether the plan by the discussion agreement among 14 container carriers in the Asia to U.S. trade would succeed.

   “There is no assurance that APL can successfully implement the quantum of freight rate increase as outlined in the TSA guideline,” the parent of container carrier APL said in the statement issued through the Singapore Stock Exchange.

We are glad you’re enjoying the content

Sign up for a free FreightWaves account today for unlimited access to all of our latest content

By signing in for the first time, I give consent for FreightWaves to send me event updates and news. I can unsubscribe from these emails at any time. For more information please see our Privacy Policy.