NOL: may fall as its latest operating statistics show sequential decline in rev & volume. For 4 weeks ended Oct15, average rev per box -6.1% at US$2,916, while volume -1.6% at 214,000 40-ft equivalent units….
Morgan Stanley notes that sequential fall reflects weakening conditions on long-haul routes, reaffirming view of an early conclusion to peak season and capacity additions weighing on rates. Add that freight rates could also have been affected by shift in volume mix involving shorter-haul intra-Asia routes
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