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NOL volumes on the rise

NOL volumes on the rise

Singapore: Neptune Orient Lines reported a hefty 43% jump in container volumes for the last six weeks of 2009, however freight rates remained depressed.

For the period 14 November to 25 December last year NOL carried 312,000 feu, up 43% for the 218,100 feu transported in the same period a year earlier.

The company said the higher volume was due to higher number of boxes lifted in all major trade lanes.

However average freight rates across all trades were down 25% in the six week period at $2,189 per feu, compared to $2,921 per feu a year earlier.

For 2009 as whole NOL reported a 7% drop in container volumes handling 2.29m feu. Average freight rates across all trades were down 25% at $2,286 per feu. [25-01-10]