NOL’s April volumes down 22%

In the four weeks to May 1, the Singapore line experienced a 22% drop in cargo liftings to 315,600 teu, compared with the corresponding month of 2008. During the same period, average revenue per teu dropped 21% to US$1,161. That reflected cheaper core freight rates and lower recovery from bunker surcharges. NOL said demand was down on all the major lanes.
The new data gives no sign of any slowdown in the container shipping recession. A month earlier, volumes were also down by 22% year-on-year, with average revenue per container falling by 20%.
The numbers bring the slide in volumes in the first four months of 2009 to 26%, with average revenue per box down by 17%, compared with prior-year levels to US$1,218 per teu.
NOL has been one of the lines at the forefront of capacity reduction, with services rationalised and ships laid up in a bid to bring supply closer into line with weak demand.