Freight Rate Volatility to be highlighted at the 2013 TPM Conference
NEWARK, N.J., Dec. 20, 2012 /PRNewswire/ -- The annual TPM container shipping conference in Long Beach will present for the 2nd year a 1-day Cool Cargoes/refrigerated shipping track analyzing all key aspects of the refrigerated ocean container transport sector. Among the topics will be an analysis on where growth in US reefer trade will be coming from and what are the fastest growing commodities and source countries for imports, and which are driving the greatest opportunities for reefer exports? The track will feature a presentation by JOC Economist Mario Moreno will present a detailed analysis of PIERS and other data that point to where the U.S. reefer trade is headed, where growth is coming from, and how shippers, carriers and 3PLs should orienting themselves to take full advantage of these trends. The track will also focus on rates, given that the TPM conference will take place roughly two months after planned Jan. 1 implementation of an across-the-board, $1,500 or roughly 30% increase in reefer rates worldwide. The increase was first announced by Maersk Line in September and has since been matched by several other carriers including APL, MSC, Wan Hai and carriers groups such as the Westbound Transpacific Stabilization Agreement.
At TPM it will be possible to assess the impact of the increase on the market and survey the reefer environment overall by the carrier leading the effort, Maersk line. In addition, reefer container shipping continues to encroach on specialized reefer ships, but carriers threaten to cut back on box investments and raise freight rates. This has led some such as Maersk Line to suggest that in five years there could be an acute shortage of reefer equipment worldwide. Philip Damas, Director, Drewry Supply Chain Advisors, will present an update of the firm's 2011/2012 Reefer Shipping Market Review and Forecast.
Timed at the start of the service contract negotiating cycle for the eastbound trans-Pacific, TPM is a content-rich event featuring dozens of senior-level industry executives addressing the most topical and pressing issues. The program is developed by the JOC editorial team including Bill Mongelluzzo, Joseph Bonney, Peter Leach, and consultant Barry Horowitz based on their extensive experience and industry coverage. TPM has become a must-attend event timed to the beginning of the annual service contract negotiating cycle, bringing together senior executives from across the full global container supply chain. Last year's attendance of more than 1,800 people broke event records. TPM is now the largest event of its kind in the world.
For more information, follow TPM on Twitter @TPMconferences and, for the complete TPM 2013 agenda, or to register, visit www.jocevents.com/tpm2013
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SOURCE The Journal of Commerce