Neptune Orient Lines Ltd, operator of Asia's fourth-largest container line, said its average revenue per cargo box rose 7 per cent in the four weeks to July 27 because of higher demand to move sea cargo.
Boom in business: Neptune Orient and other Asian sea carriers are benefiting as rising global trade boosts demand for cargo transport, pushing container rates higher
The company's average revenue per 40-foot container increased to US$2,821 between June 30 and July 27, from US$2,648 a year earlier, according to a Singapore stock exchange filing yesterday. It handled 183,400 boxes in the period, 10 per cent more than a year earlier.
Neptune Orient, Hanjin Shipping Co and other Asian sea carriers are benefiting as rising global trade boosts demand for cargo transport, pushing container rates higher. Singapore-based Neptune Orient said this month it expects higher rates this year after a record number of vessels that entered service last year squeezed shipping prices.
The company's average revenue per container between Dec 30 and July 27 declined one per cent to US$2,624 from the same period a year earlier. Its volume in the period increased 11 per cent to 1.3 million boxes.
The company's shares jumped 9.5 per cent to close at S$4.38 in Singapore yesterday, ending a three-day, 18 per cent slide. The stock doubled in value this year, and is the best-performer on the 49-member benchmark Straits Times Index.
Boom in business: Neptune Orient and other Asian sea carriers are benefiting as rising global trade boosts demand for cargo transport, pushing container rates higher
The company's average revenue per 40-foot container increased to US$2,821 between June 30 and July 27, from US$2,648 a year earlier, according to a Singapore stock exchange filing yesterday. It handled 183,400 boxes in the period, 10 per cent more than a year earlier.
Neptune Orient, Hanjin Shipping Co and other Asian sea carriers are benefiting as rising global trade boosts demand for cargo transport, pushing container rates higher. Singapore-based Neptune Orient said this month it expects higher rates this year after a record number of vessels that entered service last year squeezed shipping prices.
The company's average revenue per container between Dec 30 and July 27 declined one per cent to US$2,624 from the same period a year earlier. Its volume in the period increased 11 per cent to 1.3 million boxes.
The company's shares jumped 9.5 per cent to close at S$4.38 in Singapore yesterday, ending a three-day, 18 per cent slide. The stock doubled in value this year, and is the best-performer on the 49-member benchmark Straits Times Index.