JAPANESE container shipping line NYK Line is experiencing stronger transpacific demand than expected at the start of 2010 but will wait several weeks before deciding whether to add extra capacity to this trade lane, according to one of its senior executives.
"Right now we have a bit of an artificial peak created by the Chinese New Year," said Americas vice president and COO Peter Keller at the annual meeting of the National Retail Federation meeting in New York.
"If the demand continues after the Chinese New Year (February 14), we all have lots of ships that we can throw into the mix. Demand is a little more than we planned for," he said.
Mr Keller said NYK Line is among several carriers that cut capacity on the Pacific since mid- 2009, reported Newark's Journal of Commerce, adding that imports from Asia had also declined more than 30 per cent through US west coast ports.
Mr Keller said demand "remains relatively strong," something that may encourage manufacturers and retailers to import more before factories in China shut down for the week-long holiday in mid February.
Source: www.schednet.com