APL’s average revenue per container plunged 17 percent year-over-year in July but rose 1.7 percent from the previous month.
Parent NOL Group said its liner unit’s container volume rose 7 percent year-over-year to 235,200 forty-foot-equivalent units in July 2-29. That was an increase from 220,200 FEUs a year earlier and 232,700 in the previous four-week period.
Average revenue per FEU fell to $2,557 from $3,076 in July 2010 but increased from $2,513 in the four weeks from June 4 to July 1.
By the Numbers: Container Rate Benchmark
NOL warned this month it would post a loss for 2011 if rates and cargo demand don’t improve. The Singapore-based company posted a $57 million net loss for the second quarter as APL’s average rates fell 9 percent. The loss followed a $100 million profit a year ago.
APL, the group’s liner unit, reported a $53 million loss in core earnings before interest and taxes, compared with positive EBIT of $102 million a year earlier. For the first year’s first half, core EBIT was negative $61 million, compared with plus $13 million in 2010.