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NOL box rates near 2008 high

NOL box rates near 2008 high

Singapore: Container freight rates reported by Neptune Orient Lines (NOL) are just $5 per feu off their 2008 high. NOL reported a 45% jump in average freight rates across all trades to $3,181 per feu for the period 24 July to 20 August, compared to the same four weeks in 2009. The average rate for the last four-week period was just $5 lower highest average rate reported by NOL since the beginning of 2006, which was $3,186 per feu in the four-week period from 20 September to 17 October 2008. NOL said the increase was due to improved core freight rates in major trade lanes and peak season surcharges on higher volumes. Volumes for the period were up 13% at 216,900 feu compared to the corresponding period a year earlier. [14/09/10]

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