NOL volumes up 6% to 220,800 FEU in four week

Average box rates reported by Neptune Orient Lines (NOL) have continued to fall. NOL said that for the period 16 October to 12 November average revenue per feu for the line was $2,797 compared to $2,916 per feu in the previous four week period. The company said the drop was mainly attributable to the Asia – Europe and Asia – Red Sea trade lanes. Average rates were however 25% higher than the same period a year earlier. Volumes were up 6% year-on-year at 220,800 feu.