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TSA fails to shift Piers' shock 1.3% Pacific box trade growth estimate.
(From Lloyds List)
Byline: Janet Porter
THE Transpacific Stabilisation Agreement, which represents 14 of the world's largest lines, has so far failed to stare down Piers over its prediction that there will just be 1.3% growth this year on the eastbound leg of the Pacific, the world's biggest trade lane.
The TSA expects the trade to grow by 8%-12% this year.
The difference of opinion comes at a very sensitive time for carriers which are in the middle of annual contract negotiations with shippers.
A misjudgment at this stage would have an impact on lines' financial performance for the coming year.
TSA executive director Al Pierce said that although the carriers had questioned the Piers figures the forecast had not been changed.
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