Green Reefers to sell up

Oslo, Norway: Refrigerated ship operator Green Reefers plans to sell its ships and other operations after suffering a “very poor market” for a prolonged period, reports the Financial Times.

The company is selling out to Norway’s Caiano Group and will then wind itself down. The company’s chief executive Toril Eidesvik said that Green Reefers had found itself in a “really difficult cash situation”.

According to the FT more seaborne trade in fruit, meat and other perishables is switching to refrigerated containers carried on standard container ships rather than traditional ships with large refrigerated holds.

However, some shippers prefer traditional reefer ships. They say that fruit for example, particularly bananas, arrives in better condition because air can circulate around it on the voyage.

Eidesvik believes that there will still be a role for specialised reefers in the future.