Rising container shipping volumes were unable to translate to higher earnings for Singapore-based NOL in a four-week period from 30 July to 26 August, Seatrade Asia Online reports. Container shipping volumes rose 8% to 235,200 feu in the period from 216,900 feu in the corresponding period of last year, NOL announced on Monday.
Average revenue per feu, however, declined 20% to $2,559 from $3,181 during the period of comparison.
“The increase in volume was mainly due to higher volumes carried on the intra-Asia and Asia-Europe trade lanes. The decline in average revenue per feu was mainly due to lower rates in the major trade lanes, particularly the Asia-Europe and intra-Asia trade lanes,” NOL said.
Year-on-year, container shipping volumes increased 8% to 1,926,200 feu while average revenue per feu fell by 7% to $2,567.
Average revenue per feu, however, declined 20% to $2,559 from $3,181 during the period of comparison.
“The increase in volume was mainly due to higher volumes carried on the intra-Asia and Asia-Europe trade lanes. The decline in average revenue per feu was mainly due to lower rates in the major trade lanes, particularly the Asia-Europe and intra-Asia trade lanes,” NOL said.
Year-on-year, container shipping volumes increased 8% to 1,926,200 feu while average revenue per feu fell by 7% to $2,567.