Despite volatility both in terms of volumes and freight rates, Drewry has recorded only increases in global average reefer freight rates over the last 12 months, even during off-peak seasons.
The recent rising of carrier consolidation, that is expected to continue through 2018, clearly affects the global market structure, according to Stijn Rubens, senior consultant at Drewry Supply Chain Advisors.
“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.”
“With this market context in mind, supply chain professionals should ask themselves two key questions; firstly, am I paying too much for my reefer container shipments in terms of how the rates I have secured compare to my competition and secondly, how do I lock-in the most favourable terms going forward,” added Rubens. “Answers to both questions are provided to members of our exclusive Reefer Benchmarking Club.”