Views differ on how good APL August numbers look

SINGAPORE's Neptune Orient Lines' container arm APL experienced weaken volumes in August, signalling a slow-down in trade, or so Paris-based Alphaliner said.

But London's Containerisation International took a glass-half-full view, which contrasted with the more lugubrious perspective taken their colleagues in France.

Said London's CI: "In its latest operational update, APL reported significantly higher traffic volumes and much higher freight rates than in the corresponding period of 2009. APL's strong performance and its renewed confidence in the sector were key factors in it confirming contracts for ten 8,700 - 10,400 TEU new ships recently."

Looking through glass more darkly, Alphaliner said: "Although year-on-year liftings still show a healthy 13 per cent growth in its latest reporting period, it falls well short of the 35 per cent increase in the preceding seven-month period. Its latest liftings performance provides the first definite evidence of a slow-down in trade volumes in the peak season and the high level of uncertainty over volume increases for the rest of the year."

While APL volume increased 13 per cent, up from 192,800 FEU in 2009 to 216,900 FEU this year, the company's average rate per box over its service network jumped by 45 per cent year on year to US$3,181 per FEU, up on the US$2,189 per FEU last year.

NOL attributed the performance to "improved core freight rates and peak season surcharges on higher volumes".

From January to August, APL moved 32 per cent more to 1.8 million FEU against the corresponding 2009 figures of 1.4 million FEU. Revenue per box was up 19 per cent to $2,762 per FEU against $2,327 per cent in 2009.
(Source:www.schednet.com)