Delegates from all 5 continents attended the inaugural Cool Logistics Asia conference amidst fears over the softening China market
HONG KONG, 09.09.2015 – As stock markets are bracing themselves for more uncertainty over the future of the Chinese economy, Thomas Eskesen, founder of Eskesen Advisory, warned international delegates attending the 1st Cool Logistics Asia conference to “expect the unexpected”.
Rate volatility is expected to continue dominating global maritime reefer trades, but perishable cargo volumes overall should remain stable. This was the general consensus reached at the inaugural event, held in Hong Kong on 2 September.
Staged in partnership with GPE-Global Produce Events, the organiser of Asia Fruit Logistica, Asia’s leading fresh produce exhibition, Cool Logistics Asia 2015 drew over 120 top-level participants from more than 20 countries, adding a new geographical perspective to Cool Logistics Global, the flagship event organised by Cool Logistics Resources,. The 7th edition of Cool Logistics Global takes place in Bruges at the end of this month.
Topical themes at the first Asia conference included cold-chain finance, infrastructure investment, reefer shipping prospects and innovative perishable logistics technologies.
Predicting more consolidation of the reefer leasing sector, Nigel Webster, Director of Refrigerated Containers for Seaco Global, said that 42.4 per cent of the world reefer boxes are now owned by lessors. However, the biggest problem is the steady decline of return on equity (ROE). While container shipping companies have come to rely more than ever on lessors to finance reefer box acquisitions, supply of boxes is running ahead of trade growth, with equipment prices remaining stable, if not showing a small decline over a period of 14 years.