APL reports lower volumes, freight rates

APL moved 159,100 40-foot equivalent units (FEUs) in the four-week period ending May 29, 21 percent less than the same year-earlier period, according to an operational update released by its parent company NOL.
  

For the year to date, the company has moved 798,400 FEUs, 25 percent less than through the same period in 2008.
  

Freight rates averaged $2,326 per FEU in the four weeks ending May 29, 23 percent less than the $3,023 during the same 2008 period.
  

The company said the decrease in volume was due to the decline in demand on all major trade lanes. Lower average revenue per FEU was due to lower core freight rates and lower bunker recovery.

 

(Source: American Shipper)