Aggressive marketing by box lines a banana skin for Star Reefers in Q3

By Sam Whelan, Asia correspondent

02/11/2016

Conventional reefer carrier Star Reefers sailed dramatically into the red in the third quarter, blaming reduced demand and “aggressive” competition from container lines.

Oslo-listed parent company Siem Shipping reported a net loss of $1.9m, after a net profit of $2.5m in the same period in 2015.

Its 30-vessel fleet generated gross revenue of $41.5m, down from $49.3m.

Star Reefers, a major player in banana shipping, said spot market activity had been low, with only 13 fixtures reported from the east coast of Central America, while the average spot ...

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Containers vs conventional Star Reefers The Purse Strings

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