Rates over the past 12 weeks have doubled to sustainable levels from last year’s record lows

Things have turned out better than expected for operators in the reefer sector, where a cocktail of factors have pushed up rates to sustainable levels.

Average spot and time-charter rates for the two main reefer classes of 260,000 cubic feet (cbf) and 470,000 cbf are trading at levels 40% higher than 12 months ago.

The figure follows a sharp rally over the past 12 weeks as a result of very strong demand in the frozen segment, which has seen rates double from last year’s record lows to more than $1 per cbf.

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