Singapore: Neptune Orient Lines (NOL), one the word's leading container shippers, Monday said its cargo volume for the four weeks to June 26 slipped 14% from the same period 2008, writes DPA. It was the smallest fall for NOL since the company posted a hefty 35% drop in shipping volume for the four-week operating period to February 6 and an improvement from the slump by 21% the company reported for the previous operating period to May 29. Â
From May 30 to June 26, NOL moved 172,200 40-foot equivalent units (FEU), down from 201,000 FEU in the same period a year ago, NOL said in a statement. The decrease 'was due to the decline in demand on nearly all major trade lanes,' it added. Â
However, while the fall in cargo volume eased, average revenue per FEU dropped sharply by 29% to 2,190 US dollars, down from 3,080 US dollars posted for the same period 2008. For the previous operating period to May 29 this year, NOL had reported a 23% slump in average revenue.
NOL already said it expected to post a 'significant' loss for the whole year 2009. [21/07/09]
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