APL volumes drop 12%

    



Updated December 9, 2008 :56:07 AM





The JOURNAL of COMMERCE ONLINE



Neptune Orient Lines reported that its worldwide container volumes dropped by 12 percent in the four-week period from Oct. 18-Nov. 14, while average revenue per container increased by 9 percent.



The Singapore-based parent of APL said volumes totaled 169,700 FEUs, down from 192,400 FEUs in the same period in 2007.



The decline in volumes is a reflection of a slowdown in global demand, NOL said in a statement, particularly in the trans-Pacific and Asia-Europe routes where it has initiated capacity reductions since October.



Average revenue per FEU increased 9 percent to $3,124, compared to $2,860 a year ago largely due to increased bunker adjustment factors.



Year-to-date, volumes increased 9 percent to 2,246,800 FEUs from 2,069,100 FEUs.



Year-to-date average revenue per FEU increased 12 percent to $3,044 from $2,727.



-- Peter T. Leach