NOL Group: For the period 26 June to 23 July 2010, container shipping volumes increased 18% yoy, mainly due to higher volumes carried from all major trade lanes, particularly the Transpacific and Asia Europe trade lanes. Average revenue per FEU (Forty-foot Equivalent Unit) was 39% above the same period last year, due to improved core freight rates in the major trade lanes. Separately, NOL yesterday finalized an order to build two new 10,700-TEU container ships for delivery in 2012.
These two vessels are part of a 12-ship order valued at US$1.2 billion to be built by Daewoo Shipbuilding & Marine Engineering Co., as announced on 21 July by NOL. According to mgtm, NOL is investing in new vessels in order to meet future growth needs and to replace vessels with charter agreements that will expire in the next few years.
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