Drewry’s Global Reefer Freight Rate Index up for 4 straight quarters

Drewry’s Global Reefer Freight Rate Index up for 4 straight quarters

Drewry’s Global Reefer Freight Rate Index up for 4 straight quarters
DREWRY’s Global Reefer Freight Rate Index reveals four quarters of uninterrupted increases in global average reefer freight rates, reports the American Journal of Transportation.

The recent drop in investment in reefer containers only lends further weight to our expectations of further rate increases during 2018,” said Stijn Rubens, senior consultant at Drewry Supply Chain Advisors.

“The recent wave of carrier consolidation, which will continue well into 2018, is having a direct impact on global market structure,” he said.

“As shipping lines gradually regain control of prevailing freight rates, the markets are becoming increasingly tight with behaviours one associates with oligopoly,” said Mr Rubens.

“With this in mind, supply chain professionals should ask themselves if I am paying too much for my reefer container shipments and how do I lock-in the most favourable terms going forward.”

“Answers to both questions are provided to members of our exclusive Reefer Benchmarking Club,” he said.