It seems that 2021 was an exceptionally good year for shipowners in the conventional reefer market. This upturn in fortunes is reflected in our in-house ISB Seafield reefer Index which closed 2021 on a six and a half year high of 1,841 points, an increase of 104.9% year-on year. The index averaged 1,517 points/week during the year, up 43.6% from the previous years’ weekly average.
The index mirrors the rise in both spot and period reefer freight rates that we have observed across all of the primary reefer market segments including the sub segments which we are also specializing.
The continued intensification in demand for conventional reefer capacity was driven by the ongoing problems in the global container shortages which in turn has been compounded by major disruptions to supply chains caused by the global pandemic.
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