Demolition and sale-and-purchase activity of reefers evaporates as rates reach record levels and operators hang on to ships

Sale-and-purchase activity in the reefer market has all but ground to a halt as operators hang on to ships as rates reach levels unprecedented in recent years.

Just a handful of vessels changed hands for further trading in the early part of 2021.

In addition, only nine had been sold for recycling by the end June.

This is in marked contrast to most years during the past decade, when dozens of reefers were sold, and many more scrapped.

It is not hard to understand why.

Reefers, long considered a dying breed of ship, are enjoying a revival as shippers of perishable foods find themselves unable to get their products onto containerships.

Read the full article at Tradewinds