NOL: Volumes up; rates down

NOL: Volumes up; rates down    Neptune Orient Lines said Monday its container shipping subsidiary APL handled 312,500 40-foot equivalent units in the six-week period ending Dec. 25, 43 percent more than in the comparable 2008 period.
   That was a strong finish for 2009, in a year in which the carrier moved about 2.29 million FEUs, 7 percent less than in 2008.
   But revenues are still weak, with average revenue per FEU in the six-week period at $2,189, 25 percent lower than in the same 2008 period.
   NOL said APL saw improved volumes in all major trade lanes. Lower average revenue per FEU was due to lower core freight rates, lower bunker recovery and changes in trade mix, it said.
   For the year, rates averaged $2,286 per FEU, also 25 percent lower than the $3,033 average in 2008.