Journal of Commerce Poll on Economic Recovery
A majority of the attendees at the ninth annual Journal of Commerce Trans-Pacific Maritime conference do not expect a recovery from the global economic downturn and a return in growth of trans-Pacific trade before 2011, according to live poll questions asked during the conference. The response to audience questions at the recent conference in Los Angeles highlighted strong pessimism about prospects for recovery in coming months. Moreover, attendees said that because of tighter credit and the long-term impact on consumer spending they do not expect trans-Pacific containerized trade to return to growth rates between 2002 and 2006, when retail sales led to enormous growth in U.S. imports. Only 4 percent of attendees expect the U.S.
OTAL expands into China
Strengthening its position as a leading player in West African shipping and logistics, OT Africa Line (OTAL) has expanded its agency network in China. United Transportation Limited (UTL), OTAL's general agents covering Hong Kong and China, will now co-ordinate all Chinese commercial and operational activities via a sub agency network managed by Chiao Feng Shipping Ltd. With headquarters in Hong Kong, Chiao Feng has strategically located offices (highlighted below) based at important regional transhipment hubs. Chiao Feng has been established for 15 years with all branches holding a Class A license issued by the Chinese Government granting authority to handle freight traffic throughout the region.
