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NOL carriers higher volume but takes lower revenues

NOL carriers higher volume but takes lower revenues

Singapore: Neptune Orient Lines (NOL) posted higher container shipping volumes but lower average revenue per FEU on suppressed rates in a seven-week period against the previous period.

The Singapore-based box carrier recorded 394,500 FEUs from 13 November to 31 December 2010, a surge of 78.7% from 220,800 FEUs from 16 October to 12 November 2010. Low rates, however, saw NOL recorded average revenue of $2,647 per FEU in the November-December period, as against $2,797 per FEU in the October-November.

Year-on-year, however, both volumes and revenues increased due mainly to higher volumes carried on the Intra-Asia and Asia-Europe trade lanes and improved rates in major trade lanes, particularly the Transpacific and Asia-Europe lanes, according to NOL. The year-ago period saw box volumes of 312,500 FEUs and average revenue of $2,189 per FEU. [01/02/11]