Poor freight rates continue to shadow the shipping market as Singapore-based carrier NOL records higher container shipping volumes on lower revenue, Seatrade Asia online reports.In a four-week period from 27 August to 23 September, NOL clocked shipping volumes of 229,300 feu, an increase of 5% from 217,500 feu in the same period of last year.
The average revenue per feu, however, dropped 19% year-on-year to $2,501 during the period, according to figures released by NOL.
“The increase in volume was mainly due to higher volumes carried on the intra-Asia trade lane. 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,” the carrier said.
For the year-to-date period in 2011, container shipping volumes increased 8% to 2,155,500 while average revenue per feu dropped 9% to $2,560.
The average revenue per feu, however, dropped 19% year-on-year to $2,501 during the period, according to figures released by NOL.
“The increase in volume was mainly due to higher volumes carried on the intra-Asia trade lane. 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,” the carrier said.
For the year-to-date period in 2011, container shipping volumes increased 8% to 2,155,500 while average revenue per feu dropped 9% to $2,560.