News
The Transpacific Stabilization Agreement (TSA) has reported a total first quarter 2010 Asia-U.S. lift for all carriers of 1.27 million 40-foot containers (FEU). That figure, developed from PIERS reporting service data, represents nearly a 13% increase over container cargo shipped during the first quarter of 2009, although this is still below the comparable volumes for the same period in 2008.
At the same time, internal reporting by TSA carriers shows a 24.1% year-on-year increase in traffic during the month of May alone, to the U.S. West Coast and a 30.8% increase in all-water shipments to the East and Gulf Coasts via the Panama Canal.
Revenue, meanwhile, remains a concern for carriers that together lost more than $15 billion in 2009. While revenue gains made by carriers in recent months have made an important contribution to carrier balance sheets, carriers say the increases achieved in the current contract round still do not fully restore rates to the levels of late 2008 and individual TSA lines reaffirmed implementation of a previously announced Peak Season Surcharge.
