NOL November Volume Jumps 23 Percent |
Release Time:2009.12.8 |
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Yield falls as core rates slip, several trade lanes show demand growth
Neptune Orient Lines said volume grew 23 percent in November compared to the same month a year ago at its container line APL but that pricing and demand also slipped from October.
The slight decline in the month-to-month figures followed seasonal patterns but also suggested international cargo carriers still face a fragile recovery in the global shipping economy.
NOL said it carried 208,000 containers in its 11th monthly reporting period, 23 percent better than a year ago and 1.7 percent below t-he October reporting period.
Average yield slipped by $15 to $2,239 per 40-foot container and was down 28 percent from the same period a year ago.
Singapore-based NOL said the year-over-year increase in APL's volume occurred across several trade lanes. It attributed the lower a-verage revenue per FEU to lower core freight rates and lower bunker recovery.
For the year-to-date, APL's volume dropped 12 percent to 1,976,200 FEUs. Average yield dropped 24 percent to $2,301.
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