Singapore-based container shipper Neptune Orient Lines Ltd. Monday said its average revenue per forty-foot equivalent unit container in the Oct. 17 to Nov. 13 period fell 28% from a year earlier.
NOL, in a filing with the Singapore Exchange, said shipping volume for the period rose 23% from a year earlier.
Average revenue per FEU fell to $2,239 from $3,124 a year earlier, while volume for the period rose to 208,000 FEUs from 169,700.
"The increase in volume was mainly due to higher volumes lifted in several trade lanes. Lower average revenue per FEU was due to lower core freight rates and lower bunker recovery," NOL said in a statement.
NOL, in a filing with the Singapore Exchange, said shipping volume for the period rose 23% from a year earlier.
Average revenue per FEU fell to $2,239 from $3,124 a year earlier, while volume for the period rose to 208,000 FEUs from 169,700.
"The increase in volume was mainly due to higher volumes lifted in several trade lanes. Lower average revenue per FEU was due to lower core freight rates and lower bunker recovery," NOL said in a statement.