Sharp increase in freight rates for refrigerated containers

According to Drewry, a British shipping consultancy firm, freight rates for refrigerated containers increased by + 26% in the first quarter of 2021.

 

Drewry's Reefer Container Freight Rate Index, the weighted average of tariffs across the top 15 reef-intensive trade routes, recorded a + 26% increase in the 1st quarter of 2021. This is the highest level observed since the launch of the index in 2017 and prices should increase further during the 2nd quarter according to Drewry.

 

For this year, Dewry believes that the resumption of the maritime trade in perishable foodstuffs could be slowed down by the disease Fusarium TR4 which affects the production of bananas. In 2020 the Philippines, the 2nd largest exporter of bananas, were affected by the disease and their exports decreased by 18% in 2020. Peru reported an outbreak of Frusarum TR4 which caused a state of alert in the country and in the regions. neighboring countries. Global shipments only increased 1.8% in Q4 2020.

 

For most of 2021, port congestion and equipment shortages are expected to persist, but their magnitude could decrease over the months. After contracting 0.4% to 130 million tonnes in 2020, Drewry expects the recovery in reefer shipping to be around + 2.7% this year, before accelerating thereafter. at an average annual growth rate of + 4%.