NOL carries 5% more cargo in 4 weeks to July 1

Singapore’s Neptune Orient Lines (NOL) (NEPS.SI), the world’s seventh largest container shipping firm, reported a 5% rise in its cargo in the four weeks period to July 1 from a year ago but weakness in Asia-Europe rates pushed its average revenue lower by 13%.

NOL said in a statement it carried 232,700 forty-foot equivalent (FEU) during the four week, up from 221,900 units a year ago. NOL said the higher volume was due to the strong intra-Asia sector.

 

However the average revenue per FEU during that period fell to US$2,513 per FEU from US$2,892 ($3,492) last year.

 

NOL said on the year to date basis, the company said it carried 8% more cargo, but the average revenue per FEU fell by 3% compared to a year ago.