The refrigerated sector has seen growth in 2024, driven by healthy harvests in the southern hemisphere, with South Africa and New Zealand experiencing good conditions for citrus, oranges, lemons, grapefruits, and kiwifruit. Major seaborne trade of chilled products like meat and bananas has also seen single-digit year-on-year growth. Falling reefer freight rates, due to shipping lines adjusting rates and excess container segment capacity, are expected to continue, with reefer container shipping rates expected to decline as tensions in the Middle East offset improvements from increased rainfall in Panama. Drewry predicts a 1% year-on-year increase in global reefer volume in 2024, indicating a positive outlook for the sector.