Reefer capacity expected to increase 22% by 2019

Reefer capacity on the containership fleet is expected to increase by 22 per cent over the next five years, at the expense of a declining specialised reefer fleet.


market reefer container shipping


Reefer capacity on the containership fleet is expected to increase by 22 per cent over the next five years, at the expense of a declining specialised reefer fleet, according to Drewry’s latest Reefer Shipping Market Annual Review & Forecast

Reefer box capacity is expected to grow from 1.6 million 40ft slots in 2013 to 1.9 million slots in 2018. However, this fleet growth is not expected to adversely impact vessel utilisation levels thanks to strong cargo growth.

Reefer container volumes are forecast to rise by 20.5 million tonnes over this period, 16.5 million tonnes by organic growth and 4 million tonnes at the expense of the shrinking specialised reefer industry. Overall seaborne perishable reefer trade will increase by 17 per cent between 2013 and 2018, providing an additional 16.5 million tonnes of cargo.

“As a result of the expected cargo growth, reefer container slot utilisation levels will be unchanged in 2015 and only marginally lower thereafter,” said Kevin Harding, the report editor. “Meanwhile, the specialised reefer sector is forecast to shrink further as a result of scrapping and a virtually empty order book.”

The specialised sector’s continuing market share decline was reinforced by leading operator Seatrade’s recent order for two 500 feu container vessels. However, it is worth noting that although the specialised reefer fleet provided little more than 7 per cent of overall reefer capacity, it carried almost 28 per cent of the estimated perishable reefer cargo in 2013.