NOL volumes soar 63%

Singapore: Neptune Orient Lines container volumes soared 63% in January compared to a year earlier. NOL handled 307,400 feu in the six week period from 26 December 2009 to 5 February 2010, up 63% on the same period a year earlier. "The improvement in volume was due to higher volumes lifted in all trade lanes and stronger pre-Chinese New Year shipments," the company said. The beginning of 2009 saw container volumes across the board in the industry drop by as much as 30% as the full impact of the global financial crisis was felt on world trade. Year-on-year average freight rates for NOL were 9% lower at $2,417 per feu. However compared to the last month of 2009 average rates per feu were 10% higher which the company credited to increased rates on key trades and the implementation of an emergency revenue charge on the transpacific. [02/03/10]