NOL volume, rates climb

NOL volume, rates climb

Neptune Orient Lines on Monday reported container volume rose by 20 percent in the four weeks from May 29 to June 25 over the same period a year ago.

The Singapore-based carrier and parent of APL handled 139,200 FEUs in the period, compared to 115,600 FEUs a year earlier. Volumes were boosted by the introduction of additional capacity in the key trans-Pacific, Asia-Europe and intra-Asia routes for the upcoming peak season. This was the fifth consecutive month of double-digit volume growth this year, the carrier said.

The company said the average revenue per FEU was $2,673, up 3 percent over $2,595 per FEU in the same period last year and 2 percent higher than the previous month. NOL said this was due to general rate increases on several trade lanes as well as a higher mix of intra-Asian cargo.

NOL's Logistics Services revenue for the period was up by 10 percent, compared to the year-ago period, slower than the 20 percent increase the previous period. Revenue growth was boosted largely by Contract Logistics. The International Services sector grew by 15 percent versus the previous period, although year-to-year growth was only 1 percent. Revenue for Logistics Services was $63.5 million, an increase of 14 percent over the $55.5 million record in the year-ago month. Revenue from International Services was $25 million compared to $24.7 million a year earlier.