Lower rates leave NOL high and dry

Container shipping volumes may have been up 5% for the 27 August to 23 September period but lower rates in major trade lanes continue to hurl NOL.

In an announcement the company said, “For the four weeks of P9 2011, container shipping volumes increased 5% while average revenue per FEU (Forty-foot Equivalent Unit) fell 19% over the same period last year.”

The increase in volume, according to NOL, was mainly due to higher volumes carried on the Intra-Asia trade lane. However, lower rates in the major trade lanes, particularly the Asia-Europe and Intra-Asia trade lanes, mainly caused the decline in average revenue per FEU.

Meanwhile for P9 YTD 2011, container shipping volumes increased 8% while average revenue per FEU fell by 9%, compared to the same period last year.