NOL's revenue per container fell 19pc in 4 weeks to Sept 23

SINGAPORE: Singapore's Neptune Orient Lines , the world's seventh largest container shipping firm, reported on Monday a 19 percent fall in average revenue per container as shipping rates plunged.

NOL said in a statement it carried 229,300 forty-foot equivalent units (FEU) during the four weeks to Sept 23, up 5 percent from 217,500 FEU a year ago. However, the average revenue per FEU during that period fell to $2,501 from $3,104 last year.

"The decline in average revenue per FEU was mainly due to lower rates in the major trade lanes, particularly Asia-Europe and intra-Asia," NOL said.

For the period between the start of the year and Sept 23, NOL carried 8 percent more cargo as the average revenue per FEU fell by 9 percent.