NOL carried 8% more cargo in four weeks to 26 August

Reuters: Singapore container shipping firm Neptune Orient Lines (NOL) reported an 8% rise in its cargo in the four weeks to 26 August from a year ago, but weaker Asia-Europe and intra-Asia rates pushed its average revenue lower by 20 per cent.

NOL said in a statement it carried 235,200 forty-foot equivalent units (FEU) during the four weeks, up from 216,900 units a year ago.

However, the average revenue per FEU during that period fell to $2,559 per FEU from $3,181 last year.

NOL said on a year to date basis, it carried eight per cent more cargo, but the average revenue per FEU fell by seven per cent year-to-date compared to the same period a year ago.