APL's average revenue per FEU down 5%

Indicating that the upturn in freight rates is not quite upon us, APL's average revenue per 40-foot equivalent units dropped 5 percent to $2,500 during the four weeks ended March 9, while its container volume rose 2 percent to 158,600 FEUs, parent company Neptune Orient Lines reported.   NOL said the period was marked by week-long factory closures during the Lunar New Year holiday in many Asian countries, which contributed to the modest volume growth.   For the first 10 weeks of 2007, APL has transported 406,100 FEUs, up 11 percent from 367,400 FEUs in the comparable period last year. In the same time frame, APL's average revenue per FEU dropped 6 percent to $2,538 from $2,700.