Singapore's Neptune Orient Lines (NOL) , the world's seventh largest container shipping firm, reported a 7 percent rise in its cargo in the four weeks to July 29 from a year ago, but weaker Asia-Europe and intra-Asia rates pushed its average revenue lower by 17 percent.

NOL said in a statement it carried 235,200 forty-foot equivalent (FEU) during the four weeks, up from 220,200 units a year ago. NOL said the higher volume was due to the greater demand from the intra-Asia and Asia-Europe trade lanes.

However, the average revenue per FEU during that period fell to $2,557 per FEU from $3,076 last year.

NOL said on the year to date basis, the company said it carried 8 percent more cargo, but the average revenue per FEU fell by 5 percent compared to the same period a year ago. (Reuters)