Tight Capacity, Service Delays Make Space Guarantees Central to 2010 Shipping Contract Negotiations, Reports The Journal of Commerce
NEWARK, N.J., May 3 /PRNewswire/ -- Growing demand in a recovering economy is causing widespread problems for manufacturers and retailers in getting transportation equipment and service for international shipping, The Journal of Commerce reported in its May 3 edition. The concerns over shipping delays have more companies raising capacity and service issues to the forefront of contracting for space this season, increasing the prospects for higher pricing and shipping costs.
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The strength of the economic recovery took all parties by surprise and led to heated contention over recent lengthy delays at Asian ports. With speed to market crucial to U.S. importers eager to participate in growing consumer confidence, many companies are making space guarantees their priority in the annual negotiations for the eastbound Pacific service contract, which sets the foundation for business during shipping's busiest period.
"Right now, people are paying unbelievable prices to guarantee space. There's a bidding war going on," said Dave Akers, managing director of the Toy Shippers Association, which negotiates service contracts for its members.
This week The Journal of Commerce Cover Story discusses the impact of the winter Asian-trade-lane delays on pricing and loyalty, increases in capacity forecasted for 2010 and what this means for shippers and carriers alike, as all race to ride the current rising tide.
Cool Cargoes – the JOC quarterly supplement released this week – analyzes the refrigerated export side of the equipment and rate concerns. A rapid recovery in refrigerated exports led to tighter capacity and rising rates, and many wonder how long exporters' equipment shortages will continue. Cool Cargoes is the definitive source for insightful, meaningful discussion about the refrigerated supply chain.
To view daily news visit www.joc.com. For all media enquires, including article reprints, please contact Editorial Director Paul Page.
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% 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, Transpacific and Transatlantic 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, formerly Commonwealth Business Media, Inc., has been the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide since 1827. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, The Journal of Commerce Events, PIERS Global Intelligence Solutions and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of United Business Media Limited, is headquartered in East Windsor, NJ, with offices throughout the United States and in Canada and Hong Kong. For more information, explore www.ubmglobaltrade.com or call 800-221-5488 (+1-609-371-7700 outside the U.S. and Canada).
About United Business Media Limited - UBM (UBM.L) focuses on two principal activities: worldwide information distribution, targeting and monitoring, and the development and monetization of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities – from doctors to game developers, from journalists to jewelry traders, from farmers to pharmacists – with integrated events, online, print and business information products. Our 6,500 staff in more than 30 countries is organized into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently. For more information, go to www.ubm.com.
SOURCE The Journal of Commerce
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