Forty Foot Equivalent Unit News

Global freight movements continued to dwindle in the first two months of 2023 as manufacturers and distributors struggled to reduce excess inventories and cope with rising interest rates and increased caution among buyers.Container flows fell further in January and February compared with the same months a year earlier, showing the inventory-liquidation cycle was not over yet:Singapore’s seaborne container shipments were down 6% in February compared with a year earlier, one of the steepest falls since the first wave of the pandemic.Japan’s air cargo through Narita airport…

In contrast to spot rates on the Far East to North Europe trade which have fallen by more than USD 3,600 per FEU [Forty-Foot-Equivalent-Unit ] since the start of the year, those to the Mediterranean have seen a much smaller decline, falling by just USD 850 per FEU, Xeneta said in a report on Wednesday.According to Xeneta, the spot rate from the Far East to the Mediterranean stood at USD 13,100 on April 26, whereas the spot rate to North Europe was USD 11,100 per FEU.This in turn means that it is now USD 2…

India´s containerized trade with the BRICS´ nations trademarks a rise of 14 percent. Export trade from India to Brazil, China, Russia and South Africa in Q1 2018 increased 7,5 percent YOY from same period last year. South Africa turned to be Indian´s top trade partner.BRICS EXIM trade registers steady growth of 1.5 percent in Q1 2018 compared to Q1 2017. “Last year, the BRICS´ joint contribution to the world economy was 23.6 percent, and according to the International Monetary Fund’s predictions this is set to rise to 26.8 percent by 2022.

Container spot freight rates from Asia to Northern Europe fell 10.5 percent to $771 per twenty-foot equivalent units (TEU) last week, data from the Shanghai Shipping Exchange showed. Freight rates from Asia to the U.S. Freight rates from Asia to the U.S. Maersk Line, a unit in Danish shipping and oil group A.P. Moller-Maersk, is the market leader with a global market share of around 15 percent.

Container spot freight rates from Asia to Northern Europe fell 23.5 percent to $861 per twenty-foot equivalent units (TEU), data from the Shanghai Shipping Exchange showed. Freight rates from Asia to ports in the Mediterranean fell 13.8 percent to $865 per TEU. Freight rates from Asia to the U.S. West Coast fell 3.4 percent to $1,277 per forty-foot equivalent unit (FEU) Freight rates from Asia to the U.S. East Coast fell 3.8 percent to $1,884 per FEU. Maersk Line, a unit in Danish shipping and oil group A.P. Moller-Maersk, is the market leader with a global market share of around 15 percent. It controls around 20 percent on the world's busiest routes between Asia and Northern Europe. Reporting by Ole Mikkelsen

NOL Group reported a first quarter 2016 net loss after tax of $105 million. Core EBIT (Earnings before Interest, Taxes and Non-Recurring Items) for the period was a loss of $84 million, while core EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) remained positive at $18 million. “Worsening overcapacity of shipping tonnage in 2015 hit the industry well into first quarter 2016. Freight rates which declined across major trade lanes to historic low are expected to remain weak in the face of slower demand growth,” said NOL Group President and CEO Ng Yat Chung.

NOL Group today reported a 4Q 2015 net loss of US$77 million, an improvement of US$8 million over 4Q 2014. The Group posted a Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of US$65 million in the quarter. Its Core EBITDA remained positive at US$39 million. On a full year basis, NOL posted a net profit of US$707 million. Excluding a one-time US$888 million gain on the sale of its logistics unit, NOL incurred a full year net loss of US$181 million, an improvement of 30% over last year. NOL’s full year core EBIT loss reduced 5% year-on-year to US$72 million. “The last quarter of 2015 was particularly difficult.

NOL Group reported net profits of $20 million for the third quarter of 2013, and year-to-date net profits of $61 million. The Group posted year-to-date Core EBIT improvement of 33% or $42 million, from a $127 million deficit in the same period last year. Singapore-based NOL attributed the better showing so far this year to its continuing focus on operational efficiency and cost management. Its two operating companies – APL and APL Logistics – both delivered better 2013 year-to-date performances at the Core EBIT level compared to the same period in 2012.

Global container shipping and logistics group Neptune Orient Lines (NOL) reported fourth quarter 2012 Core EBIT (Earnings Before Interest and Taxes) loss of US$69 million, a 75% improvement in the key profitability measure from a year ago. The Group posted a full year net loss of US$419 million, mainly due to a first quarter net loss (before non-recurring items) of US$255 million and one-time charges of US$108 million. Singapore-based NOL also said that its efficiency programme delivered US$504 million of cost savings, which is in line with its 2012 target. The savings were primarily achieved through reduced fuel consumption, network optimization and increased terminal productivity. “General market conditions in 2012 remained challenging.

NOL Group, the Singapore-based container shipping and logistics company, reported a first quarter 2012 net loss of 254 million compared to a net loss of $10 million in the same period last year. NOL said high fuel costs and low freight rates in container shipping affected first quarter 2012 performance. NOL said that in the first quarter of 2012 it achieved about $100 million of cost savings under its ongoing programme and it is on track to achieve $500 million worth of savings for 2012. The savings were primarily through reduced fuel consumption and improved operational costs.

NOL Group today reported a $478 mnet loss in 2011 following net earnings of $461m in 2010. The container shipping and logistics company said unsettled economic conditions, high fuel costs and lower freight rates impacted results. "Recent freight rates show signs of improvement. However the global economy remains uncertain. The container shipping industry continues to face high fuel costs and overcapacity. “The performance of container shipping is disappointing.” said Group CEO Ng Yat Chung. “Over-capacity and higher fuel costs have negatively affected the whole container shipping industry. NOL said 2011 revenue decreased 2% to US$9.2 billion. The Group reported a Core EBIT (Earnings Before Interest and Taxes) loss of US$377 million for the year.

Global container shipping and logistics group Neptune Orient Lines (NOL) reported a net loss of $67 million for the first half of 2011 compared to a $1 million net profit in the same period a year ago. The Group said it lost $57 million in the second quarter of 2011. NOL reported a 9% revenue increase in the first half of 2011 to US$4.595 billion. It announced a Core EBIT (Earnings Before Interest and Taxes) loss of US$28 million. The Group said first half 2011 results were affected by higher operating costs, especially for fuel, and declining freight rates. It added that its supply chain management business, APL Logistics, increased revenue and Core EBIT. “Conditions are challenging throughout the shipping industry,” said NOL Group CEO Ronald D. Widdows.

Drewry Shipping Consultants and The Cleartrade Exchange announced that the World Container Index (WCI), the first Europe-based assessment of container freight rates and index production, is scheduled for launch in September 2011. The index will be designed to provide a new and important facility for the global market to hedge their freight rate risk and see major improvements in forward price discovery through the container derivatives market. Significantly, the new index will be the first of its kind to report weekly freight rates on backhaul as well as headhaul routes and will provide increased efficiencies in hedging strategies for freight users dealing in bulk, commoditised and recovered cargoes.

NOL Group, the Singapore-based container shipping and logistics company, today reported a first quarter 2011 net loss of US$10 million compared to a net loss of US$98 million in the same period last year. NOL said first quarter 2011 revenue was US$2.4 billion, up 16% from a year ago. First quarter Core EBIT (Earnings Before Interest and Taxes) was US$13 million, compared to a Core EBIT loss of US$74 million in the same period last year. “In spite of year-over-year volume growth…

NOL Group today reported net profit of US$461 million for 2010, representing a US$1.2 billion turnaround from its US$741 million loss in 2009. The container shipping and logistics company said that group revenue reached an all-time high of US$9.4 billion, up 45% from last year. NOL’s fourth quarter net earnings were US$177 million. That compared to a US$211 million loss in the same period a year ago. NOL reported 2010 Core EBIT (Earnings Before Interest and Taxes) of US$557 million, compared to a Core EBIT loss of US$651 million in 2009. Core EBIT in the fourth quarter was US$198 million. “Strong demand from shippers and rate increases in our major trade lanes helped drive the turnaround,” said NOL Group CEO Ronald D. Widdows.

On Feb. 6, global container shipping and logistics group, Neptune Orient Lines (NOL), reported a net profit for 2008 of $83m, 84% lower than 2007. The Group’s 2008 Core EBIT of $213m was down 64% from the prior year. For the fourth quarter of 2008 (4Q08), the company reported a net loss of $149m and a loss at Core EBIT level of $45m. The fourth quarter result includes $72m of restructuring charges. Revenue for 2008 was up 14% year-on-year to a record $9.29b. Announcing the results, NOL Group Chairman, Mr. Cheng Wai Keung, said “2008 was a year of dramatic change, in which our Group faced some of the most turbulent conditions in its long history. NOL Group President and Chief Executive Officer, Mr.

Neptune Orient Lines (NOL) reported a net profit for the first quarter of 2008 (1Q08) of $121 million, a rise of 183% over the same period of 2007 (1Q07). 1Q08 EBIT was $137 million, up 114% on the prior year. Revenue rose year-on-year by 27% to $2.41 billion. “Our increased revenue clearly shows our Group is well positioned in a growth industry. At a time of economic uncertainty and unprecedented fuel costs, we have again illustrated the viability of our business model and our strong focus on cost management,” said Dr. Thomas Held, NOL Group President and CEO.

Neptune Orient Lines (NOL) reported a net profit for 2007 of $523 million, 44% higher than the result for 2006. The Group’s EBIT was $613 million, 53% higher than in 2006. For the fourth quarter of 2007 (4Q07), the company reported a net profit of $196 million (up 292%) and EBIT of $228 million (up 221%). Revenue for the year was up 12% to a record $8.16 billion. Announcing the results in Singapore, NOL Group President and Chief Executive Officer, Dr Thomas Held, said: “At the start of 2007, we said NOL had a clear, unambiguous intention to grow profitably.

Global container shipping and logistics group Neptune Orient Lines (NOL) today reported a net profit for the third quarter of 2007 of $191m, 50% higher than for the same period in 2006. The Group’s EBIT for 3Q was $209m, 115% higher than in the third quarter of 2006. For the first three quarters of 2007, the company reported net profits of $327m (up 4%) and EBIT of $385m (up 17%). Revenue for the year-to-date was up 9% to $5.7b, and by 15% quarter-on-quarter. In NOL’s container shipping business, APL, revenue rose 11% year-to-date, and 19% on a quarter-on-quarter basis. Third quarter average revenue per FEU was 9% higher quarter-on-quarter.