NOL container freight rates down 29% in September
Neptune Orient Lines continued to report a sharp slide in container freight rates in September.
Singapore-listed NOL reported that average container freight rates across all trades for the period August 22 through September 18 this year were $2,247 per feu down 29% year-on-year.
For the year to date the average box rate was down 23% year-on-year at $2,316 per feu.
“Lower average revenue per fue was due to lower core freight rates and lower bunker recovery,” the company said.
However, rates were up 2.6% over the average of $2,189 per feu for the previous period, from July 25 to August 31 this year.
NOL reported a marginal improvement in volumes of 205,700 feu the period August 22 to September 18 this year, a 1% increase year-on-year.
“The increase in volume was mainly due to higher volumes lifted in several trade lanes,” the company said.
Year-to-date volumes were down 18% at 1.6m teu. NOL posted a first half year loss of $391m.
Singapore-listed NOL reported that average container freight rates across all trades for the period August 22 through September 18 this year were $2,247 per feu down 29% year-on-year.
For the year to date the average box rate was down 23% year-on-year at $2,316 per feu.
“Lower average revenue per fue was due to lower core freight rates and lower bunker recovery,” the company said.
However, rates were up 2.6% over the average of $2,189 per feu for the previous period, from July 25 to August 31 this year.
NOL reported a marginal improvement in volumes of 205,700 feu the period August 22 to September 18 this year, a 1% increase year-on-year.
“The increase in volume was mainly due to higher volumes lifted in several trade lanes,” the company said.
Year-to-date volumes were down 18% at 1.6m teu. NOL posted a first half year loss of $391m.