Freight Rate Increase and Global Overcapacity Create Dynamic Backdrop for 2012 Trans-Pacific Maritime Conference
NEWARK, N.J., Feb, 13, 2012 /PRNewswire/ -- Ocean carriers' plans to increase import trans-Pacific freight rates by $800 per 40-foot container will be discussed by key industry figures in the opening Market Outlook session of the 2012 Trans-Pacific Maritime Conference, Mar. 5-7, Long Beach, Calif.
Brian Conrad, executive administrator of the Transpacific Stabilization Agreement -- the 15-carrier group that announced increases on Feb. 9 in a bid to reverse the estimated $5 billion in losses container lines suffered in 2011 -- will participate in a session on Mar. 5.
"If carriers adopt a marginal increase that only partially offsets huge losses as costs continue to rise, the result is another 18 months of losses. This year in particular, rate recovery must be meaningful in order to maintain service levels and, ultimately, carrier viability," Conrad said when announcing the increases.
The panel will also include analysts Martin Dixon of Drewry Shipping Consultants and Janet Lewis of Macquarie Securities, both of whom closely follow container lines and the freight rate environment and will provide independent context to the announcement. Mario Moreno, PIERS/JOC economist, will offer his latest forecast for 2012 trans-Pacific volumes in this panel as well. The TSA announcement and the timing of 2012 TPM come as shippers and carriers begin the annual service contract negotiating cycle that culminates when most eastbound service contracts renew on May 1.
Other TPM sessions will address pressing issues affecting shippers in this market, including: East Coast longshore negotiations; carriers no longer providing chassis; East Coast port readiness for the 2014 Panama Canal expansion and the West Coast response; and regulation of import and export container movements.
"The market will be in flux headed into TPM this year, with carriers aiming for a large rate increase against a backdrop of global overcapacity but also rising layups," said Peter Tirschwell, senior vice president for The Journal of Commerce. "That, by itself, will make for an interesting Market Outlook session and indeed an interesting event this year."
To hear more about TPM from Peter Tirschwell, the senior vice president of strategy, click here for an audio interview: http://www.joc.com/tpm/qa-preview-tpm-long-beach-2012
Receive a $100 discount on registration by visiting http://www.joc.com/tpm2012 and using promotional code PRTPM2012 before March 2.
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About The Journal of Commerce: Since 1827, The Journal of Commerce has been the most trusted source of intelligence for international logistics executives to help them plan global supply chains and better manage day-to-day transportation of goods and commodities in the United States and internationally.
To become a member of The Journal of Commerce click here. JOC members have access to our weekly print and digital magazine and Web site, as well as a 10 percent discount on all JOC events and trade shows, UBM Global Trade Directories and select PIERS products. Authoritative editorial content in the form of daily news, weekly analysis and regular features ensure our members have the information and data necessary to understand the issues facing trucking, rail and maritime transportation. Members enjoy access to "By the Numbers," an exclusive weekly compilation of key industry statistics that provides detailed views of current market trends across all modes. Regular market intelligence reports -- utilizing PIERS trade data -- include Top 100 Imports and Exporters, quarterly Top 40 Container lines, Trans-Pacific and Trans-Atlantic Maritime Forecasts and Top Container Ports and Terminals. Market-sector supplements, including Breakbulk, Cool Cargoes, 3PL, JOC Guide to Trucking and others, ensure all modes are comprehensively covered.
About UBM Global Trade -- UBM Global Trade is the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, Breakbulk, RailResource, PIERS and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of UBM LLC, is headquartered in Newark, NJ, with offices throughout the United States. For more information, explore www.ubmglobaltrade.com or call 800-223-0243 (+1-973-848-7250 outside the U.S. or Canada).
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