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Equipment shortages have helped prop up freight rates for reefers, even as dry container prices continue to decline.
According to Rafael Llerena, CEO of 3PL EasyFresh, reefer freight rates have remained high despite an apparent tail-off in demand on other trades.
He said: “Reefer rates have held up not only because of the higher trade leg demand, compared with dry cargo, but also as a result of a shortage of equipment. Reefer containers have to compete with high-priced laden dry containers on the return leg from Asia and are facing congestion, which slows boxes returning from the U.S.
“Moreover, non-operating reefers have been used to replace dry cargo units on certain trades over the past few months, but these are taking a long time to return to loading ports due to congestion problems, schedule reliability issues and blank sailings from Asia, delaying rotation and supply.”
Read more in an article from The Loadstar.