APL posts strong volume, revenue gains

Singapore-based Neptune Orient Lines today reported a 13 percent year on year increase in average revenue per FEU for its ocean carrier subsidiary APL in the four-week period ended June 27.

APL's average revenue per FEU for the period improved to $3,080, up from $2,726 a year ago. NOL said the revenue increase was due to higher bunker adjustment factor collections and improved backhaul freight rates on major trade lanes.

During the same timeframe, APL transported 201,000 FEUs, up 8 percent compared to 185,700 FEUs. NOL said the volume increase came mainly from the Asia/Europe and intra-Asia trade lanes.

For the year, APL's volume was up 13 percent to 1.27 million FEUs with the average revenue per FEU up 15 percent to $2,972.