APL’s container volume and average revenue per container fell during the most recent four week reporting period, its parent Neptune Orient Lines said Monday.
During the four weeks from May 2 through May 29, APL’s container shipping volume declined 21 percent while average revenue per 40-foot container dropped by 25 percent from the same period a year earlier.
NOL attributed the decrease in volume to the decline in demand on all major trade lanes. Lower average revenue per FEU was due to lower core freight rates and lower recovery of its bunker fuel costs.
Volume fell to 159,100 FEUs in the period from 201,700 FEUs last year. The average revenue per FEU dropped to $2,326 from $3,023 last year.
APL’s container shipping volume in the year through May 29 declined 25 percent to 798,400 FEUs from 1,067,600 FEUs in the same five months last year.
Average revenue per FEU declined 18 percent to $2,415 from $2,952 for the same period in 2008.
Contact Peter T. Leach at email@example.com.