Executive Briefings

Trans-Pacific Container Carriers Brace for Surge in Peak Season Cargo

The Transpacific Stabilization Agreement, a discussion agreement of 15 container carriers serving the Asia-to-U.S. trade, said internal reporting by its members "shows a 24.1 percent year-on-year increase in traffic during the month of May alone to the U.S. West Coast, and a 30.8 percent increase in all-water shipments to the East and Gulf coasts via the Panama Canal.

"Although the long-term economic outlook still remains unclear, carriers are now seeing a strong peak season surge that could last for some months" said Y.M. Kim, president and chief executive officer of Hanjin Shipping Co.

TSA said first-quarter cargo demand from Asia to the United States was equivalent to 2.54 million TEUs, 13 percent more than in the first quarter of 2009 according to figures from PIERS.

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The Transpacific Stabilization Agreement, a discussion agreement of 15 container carriers serving the Asia-to-U.S. trade, said internal reporting by its members "shows a 24.1 percent year-on-year increase in traffic during the month of May alone to the U.S. West Coast, and a 30.8 percent increase in all-water shipments to the East and Gulf coasts via the Panama Canal.

"Although the long-term economic outlook still remains unclear, carriers are now seeing a strong peak season surge that could last for some months" said Y.M. Kim, president and chief executive officer of Hanjin Shipping Co.

TSA said first-quarter cargo demand from Asia to the United States was equivalent to 2.54 million TEUs, 13 percent more than in the first quarter of 2009 according to figures from PIERS.

Read Full Article