APL June sales 32pc up on rate surge, but Asia-EU volumes slide

SINGAPORE's Neptune Orient Lines container shipping unit, APL, enjoyed a 32 per cent year-on-year revenue surge to its highest level in 18 months in June as well as posting four per cent better sales than in May.

Much of the gain was attributed to transpacific rate increases, reported Paris-based Alphaliner. Liftings for the four weeks ending June 25 hit 443,800 TEU, up 29 per cent up year led by the transpacific and intra Asia trades.

APL parent NOL is expected to return to profit in the second quarter after posting a net loss of US$98 million in the first quarter. Asia-Europe volumes as a share of APL's total volumes have been falling in recent years, from 20 per cent in 2005 to 15 per cent today.
(Source:www.schednet.com)