NOL says container shipping volumes fall 24% y-o-y for Nov 15-Dec 26

Shipper NOL reported container shipping volumes for the six weeks (Period 12) from Nov 15 2008 to Dec 26 2008 declined 24% over the same period last year to 218,100 FEUs (Forty-foot Equivalent Units).

“The decrease in container shipping volumes in P12 2008 is a result of the rapid deterioration in demand on all major trade lanes and pro-active capacity management by the company to reduce costs,” the shipper said in a statement to the SGX.

Average revenue per FEU increased 3% over the same period last year largely due to recovery of bunker fuel costs.

2008 container shipping volumes increased 5% while average revenue per FEU showed an 11% improvement over 2007 levels.

Source :The Edge Singapore