Singapore's Neptune Orient Line (NOL) has announced that its container shipping arm APL moved 307,400 FEU in the six-week period ending February 5, a 63 per cent year-on-year increase.
"The improvement in volume was due to higher volumes lifted in all trade lanes and stronger pre-Chinese New Year shipments," an NOL statement said.
But average revenue per FEU declined nine per cent during the reporting period to US$2,417 per FEU, down from $2,646/FEU a year earlier.
"Lower average revenue per FEU year on year was due to lower core freight rates, particularly on the transpacific and changes in trade mix, partially offset by improvements in Asia Europe rates," it said.
On a brighter note, the average revenue per FEU for the period under review was 10 per cent higher compared to the previous six-week period, "due to increased freight rates on key trade lanes and the implementation of the Emergency Revenue Charge on the Transpacific on January 15, NOL said.
For the whole of 2009 the NOL group posted a net loss of US$741 million, compared with a net profit of $83 million for 2008. Full-year revenue in 2009 registered a year on year decline of 30 per cent to $6.5 billion.
For the fourth quarter of 2009, NOL recorded a net loss of $211 million, compared to a net loss of $149 million for the corresponding quarter a year earlier on revenue of $2.02 billion, down 12 per cent year on year.
Said NOL chairman Cheng Wai Keung: "2009 was a most demanding year. We witnessed a worldwide economic downturn of unprecedented scale and, as a consequence, experienced a major slowdown in global trade. In the face of very difficult market circumstances, the group has reported a substantial loss."
The group's container shipping segment during the whole of 2009 transported 2.3 million FEU, a decrease of seven per cent compared to 2008. Average revenue per FEU last year was 25 per cent lower at US$2,286 than the previous year. In 2009, revenue was down 31 per cent year on year at $5.5 billion, contributing to an EBIT loss of $739 million.
"The improvement in volume was due to higher volumes lifted in all trade lanes and stronger pre-Chinese New Year shipments," an NOL statement said.
But average revenue per FEU declined nine per cent during the reporting period to US$2,417 per FEU, down from $2,646/FEU a year earlier.
"Lower average revenue per FEU year on year was due to lower core freight rates, particularly on the transpacific and changes in trade mix, partially offset by improvements in Asia Europe rates," it said.
On a brighter note, the average revenue per FEU for the period under review was 10 per cent higher compared to the previous six-week period, "due to increased freight rates on key trade lanes and the implementation of the Emergency Revenue Charge on the Transpacific on January 15, NOL said.
For the whole of 2009 the NOL group posted a net loss of US$741 million, compared with a net profit of $83 million for 2008. Full-year revenue in 2009 registered a year on year decline of 30 per cent to $6.5 billion.
For the fourth quarter of 2009, NOL recorded a net loss of $211 million, compared to a net loss of $149 million for the corresponding quarter a year earlier on revenue of $2.02 billion, down 12 per cent year on year.
Said NOL chairman Cheng Wai Keung: "2009 was a most demanding year. We witnessed a worldwide economic downturn of unprecedented scale and, as a consequence, experienced a major slowdown in global trade. In the face of very difficult market circumstances, the group has reported a substantial loss."
The group's container shipping segment during the whole of 2009 transported 2.3 million FEU, a decrease of seven per cent compared to 2008. Average revenue per FEU last year was 25 per cent lower at US$2,286 than the previous year. In 2009, revenue was down 31 per cent year on year at $5.5 billion, contributing to an EBIT loss of $739 million.