Neptune Orient Lines revenues took a hit in June due to weak freight rates on the Asia-Europe route, but container shipping volumes inched up, Seatrade Asia online reports. For the four weeks from 4 June to 1 July, NOL's average revenue per feu dropped 13% to $2,513 compared to $2,892 in the same period of last year.
Container shipping volumes rose 5% to 232,700 feu in the four-week period compared to 221,900 feu in the corresponding period of 2010.
“The increase in volume was mainly due to higher volumes carried on the intra-Asia trade. The decline in average revenue per feu was mainly due to lower rates in the Asia-Europe trade lane,” NOL said in a statement.
Year-to-date, container shipping volumes increased 8% to 1,455,700 feu while average revenue per feu fell by 3% to $2,570 over the previous year's period.
Container shipping volumes rose 5% to 232,700 feu in the four-week period compared to 221,900 feu in the corresponding period of 2010.
“The increase in volume was mainly due to higher volumes carried on the intra-Asia trade. The decline in average revenue per feu was mainly due to lower rates in the Asia-Europe trade lane,” NOL said in a statement.
Year-to-date, container shipping volumes increased 8% to 1,455,700 feu while average revenue per feu fell by 3% to $2,570 over the previous year's period.