ShippingWatch

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Photo: Christian Charisius/AP/Ritzau Scanpix

The market for refrigerated containers – reefers – is unusually lucrative for shipping companies at the moment, with rates having surged greatly within the past year – and with further increases set for the third quarter, according to maritime and supply chain consultancy firm Drewry.

The surge in reefer rates complements the elevated rates on dry containers, and Drewry expects reefer rates to beat the rates of the dry variant in Q3.

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