Drewry: Reefer Rates Rise for 4th Consecutive Quarter

Global average reefer freight rates recorded only increases over the last 12 months, even during off-peak seasons, according to Drewry.

Although reefer trades have a reputation for volatility in volumes and freight rates, the shipping consultancy’s Global Reefer Freight Rate Index showed that these rates were up for the 4th consecutive quarter, as shipping lines “gain control of shippers’ purses.”

“The recent wave of carrier consolidation, which will continue well into 2018, is having a direct impact on global market structure,” Stijn Rubens, senior consultant at Drewry Supply Chain Advisors, said.

“As shipping lines gradually regain control of prevailing freight rates, the markets are becoming increasingly tight with behaviours one would more commonly associate with oligopoly conditions. The recent drop in investment in reefer containers only lends further weight to our expectations of further rate increases during 2018,” Rubens added.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >