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Specialised Shipping

Reefer Shipping Annual Review & Forecast 2023-24


Aug 2023: Our latest annual review and forecast for the reefer shipping market is now available to purchase and download from our online store.

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Overview

Advisory expertise

Related Research

Key Contacts

Dr. Ferenc Pasztor

Dr. Ferenc Pasztor


Tim Power

Tim Power

Latest update: 22 Feb 2024

Reefer shipping rates rise to be temporary as excess capacity plugs gaps

The recent rise in reefer shipping rates is expected to prove short lived, as the trade adjusts to the rerouting of vessels and excess containership capacity is deployed to support longer transit times. While the subsequent re-routing of cargoes continues to add some delays and complexity in repositioning reefer equipment, this is not expected to have a long-term effect on freight rates.

 

21 Nov 2023: Seaborne reefer trade to contract for the second consecutive year

In the final quarter of the year, the outlook for seaborne reefer trade has weakened with cargo demand now expected to post a second consecutive year of decline. Meanwhile, transit restrictions on the drought-stricken Panama Canal are starting to impact vessel capacity serving exports of perishables out of the West Coast of South America.

 

06 Nov 2023: China’s domination of the MPV orderbook presents a supply-side risk

The multipurpose vessel (MPV) orderbook to date is dominated by China, both in number of vessels and total dwt. At the same time, China has exclusively been building all the high-capacity ships of the sector. While this is not a new development, the growing geopolitical tensions between the US and China could put the MPV fleet expansion and charter market in a precarious position.

 


Specialised shipping

The specialised shipping sector covers a variety of different niche segments that remain critical to the conduct of world trade.

These include:

  • Multipurpose shipping, incorporating both Breakbulk and Heavylift (or project) shipping
  • Reefer shipping, involving the movement of refrigerated cargo
  • Car Carrier shipping, involving the movement of autos (including PCTC)
  • Ferry & Cruise shipping, involving the movement of passenger traffic
  • Offshore, involving the support of the offshore oil and gas industry or special project work

Each of these sectors is characterised by very different dynamics and characteristics, requiring highly specialised understanding of these niche trades.

As a trusted, independent voice in the market, our team of specialists are regularly asked to present their research findings into market trends and future predictions for multipurpose and reefer sectors at leading industry conferences around the world.

In addition to detailed market analysis and rigorous forecasting we offer market leading analysis of the trade affecting the principle vessel categories as well as appraisal of shipping finances, including pricing, operating costs and investment returns. We challenge conventional wisdom through our deep understanding of the trade dynamics driving demand for different vessel types in all corners of the world.

Key Contacts

Dr. Ferenc Pasztor

Dr. Ferenc Pasztor

Deputy Head of Research
Tim Power

Tim Power

Managing Director and Head of Maritime Advisors

Key Contacts

Dr. Ferenc Pasztor

Dr. Ferenc Pasztor

Deputy Head of Research
Tim Power

Tim Power

Managing Director and Head of Maritime Advisors

Latest Updates

Reefer shipping remains resilient despite 2022 trade contraction

Reefer shipping remains resilient despite 2022 trade contraction


Reefer container freight rates stabilising but to outpace dry box pricing

Reefer container freight rates stabilising but to outpace dry box pricing


Reefer container freight rates to outgun dry cargo rates in 2022

Reefer container freight rates to outgun dry cargo rates in 2022

Advisory support across the specialised shipping sectors

Advisory support across the specialised shipping sectors

We offer specialist advisory services to support operational, planning, strategic and investment needs in the multipurpose, offshore, PCTC, car carrier, ferry and cruise liner sectors. As well as operational and technical due diligence services we also conduct bespoke market analysis, financial modelling and feasibility studies to support the commercial and strategic objectives of owners and operators, investors and other stakeholder with interests in these highly specialised areas.

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Reefer Shipping Forecaster (Annual subscription)

Reefer Shipping Forecaster (Annual subscription)


Quarterly In-depth Market Forecasts · Latest release 05 Feb 2024


The package includes the Reefer Annual Review & Forecast, together with three concise quarterly Reefer Forecaster reports, delivering a full and up-to-date picture of the reefer shipping market for the duration of your subscription (12 months).

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Multipurpose Shipping Forecaster (Annual Subscription)

Multipurpose Shipping Forecaster (Annual Subscription)


Quarterly In-depth Market Forecasts · Latest release 19 Dec 2023


Our Multipurpose Forecaster provides an unparalleled depth of market analysis. This subscription package comprise the annual market review together with quarterly sector updates and all tables, charts and graphs in Excel.

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