Transpacific carriers say trade volumes remain strong

Transpacific carriers say trade volumes remain strong    The Transpacific Stabilization Agreement, a group representing 14 major carriers, said Monday that eastbound transpacific cargo volumes will grow about 10 percent in the 2004-05 service contract season.
   The carriers issued the forecast as they continue to negotiate new contracts due to start May 1, when they hope to implement rate increases of $450 per 40-foot container from Asia to the U.S. West Coast and $600 from Asia to U.S. East Coast and inland destinations, combined with a $400-per-container peak season surcharge.
   “Advance bookings and discussions with customers suggest that the trend of tight space will continue through much of April, and resume after a typical May lull, with summer back-to-school and holiday shipments leading a peak season spike through September,” the carrier group said.
   TSA carriers “are confident that cargo demand will grow by around 10 percent over the 2004-05 service contract season, in line with the 9-10 percent annualized growth in vessel capacity anticipated during the same period,” the group said in a statement.
   The TSA said foreign investment in manufacturing in China “has translated into containerized shipments to the U.S.”
   “Neither a dramatic adjustment to exchange rates, a near-term increase in U.S. interest rates, nor a tangible protectionist U.S. backlash over jobs are likely to dampen two-way trade,” the TSA said. China now accounts for more than 60 percent of the 9.1-million-TEU-a-year Asia/U.S. cargo volume.