NOL sees 12% rise in container volume

By NISHA RAMCHANDANI


Neptune Orient Lines (NOL) saw container shipping volumes increase 12 per cent year-on-year to 212,700 forty-foot equivalent units (FEUs) for the four weeks spanning 12 February to 11 March, but average revenue slipped one per cent to US$2,560 per FEU.

'The increase in volume was mainly due to higher volumes carried on the Intra-Asia and Asia-Europe trade lanes while the decline in average revenue per FEU was due mainly to falling rates in the Asia-Europe trade lane,' NOL said in a release to the Singapore Exchange (SGX) on Monday.

For the year to date, container shipping volumes have risen 8 per cent to 534,300 FEUs while average revenue per FEU has increased 6 per cent to US$2,616.