Drewry: Reefer Box Capacity to Grow 22%

marinelink.com
Tuesday, August 12, 2014

Reefer capacity on the containership fleet is expected to increase by 22% over the next five years, at the expense of a declining specialized 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 utilization 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% between 2013 and 2018, providing an additional 16.5 million tonnes of cargo.

 

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

The specialized 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% of overall reefer capacity, it carried almost 28% of the estimated perishable reefer cargo in 2013.

 

“The specialized reefer operators peaked some years ago, in terms of cargo volumes, and now face continued falling volumes and market shares,” remarked Harding. “However, this does not necessarily affect their profitability. In fact, from the limited number of public companies reporting financial returns, profitability is indeed achievable. Specialised reefer companies are now looking to reinvent themselves to protect their undoubted expertise in their field.”

Drewry estimates that the worldwide seaborne perishable reefer trade rose at an annual rate of 3.2% in the 10 years to 2013, reaching 98 million tonnes last year. Sectors driving this growth have been meat and exotic fruit, with the latter rising as much as 9.3% each year over the period.

Reefer Annual Review & Forecast” is an annual report published by Drewry Maritime Research and is priced at £1,495.
The report will be available from the Drewry website www.drewry.co.uk.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

USNS Spearhead Delivers Materials to Ghana Charities

  The U.S. Navy’s joint high-speed vessel USNS Spearhead (JHSV 1) delivered wheelchairs and medical supplies to Ghanaian non-governmental organizations March 26, 2015.

New Products

New Workwear Lifejacket Introduced

Ocean Safety has introduced a new range of workwear lifejackets.   The new Kru Workwear range completes Ocean Safety’s lifejacket offering, providing a wide choice

MOL’s Coal Carrier for Tokyo Electric Power

Mitsui O.S.K. Lines, Ltd. today announced that the coal carrier Hakutaka, which will serve Tokyo Electric Power Company, Inc. was delivered at Mizushima Shipyard

Swire Pacific Offshore Acquires 2 Newbuildings

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming of two new vessels, Pacific Centurion, an Anchor Handling Tug Supply (AHTS) vessel,

Finance

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

India May Add Japanese Soryu-Class Submarines to its Fleet

India is reportedly considering a project to incorporate six Japanese Soryu-class diesel-electric submarines into its fleet, says The Japan Times.   The Defense

News

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

USNS Spearhead Delivers Materials to Ghana Charities

  The U.S. Navy’s joint high-speed vessel USNS Spearhead (JHSV 1) delivered wheelchairs and medical supplies to Ghanaian non-governmental organizations March 26, 2015.

Marine Equipment

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

US Navy to Roll out Underwater Spy Satellites

The robotic series that remade crusade in skies will shortly extend to a low sea, with underwater view “satellites,” drone-launching pods on a sea building and unmanned ships sport submarines,

Viking Bags Charter Deal for AHTS Brage Viking

Viking Supply Ships has entered into a contract with an Oil major for the charter of “Brage Viking” commencing 1stof April 2015. The duration is for 2 years and 8 months firm,

People in the News

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

USNS Spearhead Delivers Materials to Ghana Charities

  The U.S. Navy’s joint high-speed vessel USNS Spearhead (JHSV 1) delivered wheelchairs and medical supplies to Ghanaian non-governmental organizations March 26, 2015.

Intermodal

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

Container Ship breaks Down off Essex Coast

Lifeboats from Walton and Frinton, and the Harwich have been called out to a container ship ANL Warringa off the coast of Essex which had been reported to be drifting in a major shipping lane.

First Supramax Vessel for Japan-Italy Venture

'DACC Tirreno' was delivered at the Oshima shipyard in Japan yesterday, the first of four Supramax bulk carriers for the dACC Maritime Limited fleet, the joint

 
 
Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2425 sec (4 req/sec)