Conventional reefer markets have entered peak season with freight and time-charter rates continuing to climb.

There is little sign that freight levels will drop back in the near-to-medium term as capacity shortfalls are far from being solved, brokers believe.

Spot freight rates and time-charter earnings for conventional reefer vessels virtually doubled to reach their highest level for several years by the end of 2021.

That is continuing this year with the ISB Seafield Reefer Index climbing further in January and breaching the 2,000 barrier.