The average revenue per 40-foot equivalent container unit transported by APL fell $1 from the month before even as the carrier’s total volume increased 2 percent in the four-week period from Oct. 22 to Nov. 18, NOL said Monday.
The latest monthly report released by the Singapore-based carrier reflects the damage wrought by low freight rates on the major trade lanes, even as volume stays fairly strong. The trend has plunged carrier earnings for the first three quarters into the red.
APL’s revenue per FEU in the period averaged $2,401, down 14 percent from $2,797 year-over-year. Average revenue per FEU for the year-to-date of $2,532 was down 10 percent year-over-year. NOL said the decline in average revenue per FEU was because of lower rates in the major trade lanes.
APL carried 224,200 FEUs in the period, which was down by 16,800 FEUs from the previous month, but 2 percent higher than the 220,800 FEUs it carried in the same period last year. For the year-to-date, APL carried 2.6 million FEUs, up by 8 percent from last year. NOL said the increase in volume year-over-year was mainly due to higher volumes carried on the intra-Asia trade.