APL’s average revenue per container declined 2.8 percent in October from the month before, reaching its lowest point since June, as demand leveled off at the end of the peak ocean container shipping season, Neptune Orient Lines said in its monthly operational update, the Jouranl of Commerce reported.
The carrier’s average revenue per 40-foot-equivalent unit was $2,916 in the four weeks ending Oct. 15. That was 29 percent better than a year ago despite the second straight month-to-month decline.
Spot container rates have been softening on Asia-Europe and trans-Pacific routes in recent weeks. Rates also have dropped on Asia-Europe contracts, which generally are for shorter periods than in the trans-Pacific, where most cargo moves under annual contracts that continue through April.
At the same time, container volume at the shipping unit of NOL during the October reporting period was up 1 percent from the same period a year ago.
The 214,000 TEUs was 1.6 percent behind the figure from the month before and the lightest volume in APL’s global network since May.
The carrier’s average revenue per 40-foot-equivalent unit was $2,916 in the four weeks ending Oct. 15. That was 29 percent better than a year ago despite the second straight month-to-month decline.
Spot container rates have been softening on Asia-Europe and trans-Pacific routes in recent weeks. Rates also have dropped on Asia-Europe contracts, which generally are for shorter periods than in the trans-Pacific, where most cargo moves under annual contracts that continue through April.
At the same time, container volume at the shipping unit of NOL during the October reporting period was up 1 percent from the same period a year ago.
The 214,000 TEUs was 1.6 percent behind the figure from the month before and the lightest volume in APL’s global network since May.
NOL posted a $282 million profit in the third quarter, reversing a $139 million loss a year earlier, as revenue rose 55 percent from a year earlier.
NOL’s core earnings before interest and taxes in the third quarter totaled $319 million, compared with a core EBIT loss of $115 million a year earlier.
For the first three quarters of 2010, core EBIT totaled $359 million, compared with a core EBIT loss of $468 million a year earlier.
For the first three quarters of 2010, core EBIT totaled $359 million, compared with a core EBIT loss of $468 million a year earlier.