Record growth recorded in 2021 on the reefer market

2021 has been a banner year for the reefer market. The index which reflects the rise in refrigerated freight rates recorded a spectacular increase of +104.9%.

 

The Irish Shipbrokers website announces that its ISB Seafield Reefer Index closed the year 2021 on 1,841 points. That is an increase of +104.9% compared to the previous year. The index reached an average of 1,517 points/week during 2021, an increase of +43.6% compared to the weekly average of previous years.

 

Several factors can explain this spectacular increase, such as the increase in demand, or the disruption of supply chains caused by the pandemic on a global scale, but also the shortage of containers. Because in 2021, despite this spectacular increase, the conventional refrigerated fleet lost around 2.95 million cubic feet in capacity, a decline of around 1.6%.

 

Shipping costs have contributed 1.5% to global inflation in the past 12 months, according to UNCTAD, the United Nations Trade and Development Department

 

 

source : irishshipbrokers.ie