A maritime executive with a leading ocean carrier says imports of containerized freight from Asia to the U.S. will be especially strong this year, despite the extra capacity added to the eastbound Pacific trade lane. This increase in demand is figuring prominently in contract negotiations between shippers and carriers, which are underway.

However, demand alone will not be the only reason for carriers to seek a rate hike this year. Carrier executives say they're under pressure from shareholders to raise rates following last year's profits, which were the first in several years. Expenses are also climbing as carriers spend more on new vessels and infrastructure to keep up with the growing Asia trade volumes.

According to London-based Drewry Shipping Consultants, containerized imports from Asia jumped approximately 10 percent in 2003, while another 10 percent expansion is likely for 2004.