Neptune Orient Lines, parent of APL, said its freight volumes in the six weeks from Nov. 19 to Dec. 20, 2005 dropped 10 percent to 219,400 FEUs from the corresponding period a year earlier.
Its average freight rate in the six-week period rose 2 percent to $2,829 per FEU.
For the year, NOL's volumes rose 9 percent to 1,945,700 FEUs from 1,792,900 in 2004, while average freight rates were up 5 percent to $2,841 per FEU.
The Singapore-based company said revenues from its contract logistics business declined by 4 percent in the most recent six-week period to $102.1 million, but grew by 5 percent over the entire year to $862.3 million.
By contrast, revenue from international services saw robust growth, with increases of 10 percent for the six-week period and 29 percent for the year.
-- Peter T. Leach