As further evidence emerges that the cost of refrigerated container (reefer) shipments on routes linking Europe and North America with the Far East are back around pre-COVID-19 pandemic levels, there is expectation that rates may be about to hit the bottom.

"Reefer spot freight rates are near pre-pandemic levels on the Far East to north Europe trade," Rafael Llerena, CEO at global reefer logistics supplier Easyfresh, said in a post on Linkedin.

The blanking or canceling of around 30 percent of the capacity sailing on east-west routes is not proving sufficient to maintain previous high shipping rates, the executive said.