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October 1 2018

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18 The Journal of Commerce | October 1 2018 www.joc.com Cool Cargoes Special Report BCOs and carriers find reefer opportunities in both familiar and newfound places By Lara L. Sowinski Reacting to change THE REALITY OF constant change presents both opportunities and obstacles in the global reefer market. New challenges are emerging in the form of escalating trade tensions be- tween the United States and its key trade partners, affecting beneficial cargo owners (BCOs), carriers, and logistics providers alike. At the same time, lingering is- sues related to service and equipment availability remain a shared concern. How can stakeholders capitalize on market dynamics while mitigating exposure to risk? What role does tech- nology play in the equation, including new reefer technology? And equally important, where do industry experts see the industry heading in the next 12 to 18 months? According to Dan Halstrom, president and CEO of the US Meat Export Federation (USMEF), beef and pork production is on track to hit a record high this year, following equally strong production in 2017. "A significant percentage of the increased production will need to be exported," Halstom said. A large amount of the overall 3 to 4 percent increase will likely ship to markets in Japan, Korea, and Southeast Asia. The USMEF reported strong growth in the first half of the year. From January to June, the volume of US beef exports was up 9 percent. Measured in value, the increase was 21 percent. "Japan, Korea, Taiwan, and Cen- tral and South America, these are all areas that are up," Halstrom said. Korea was among those with the strongest market growth, up 36 percent, while Mexico, one of the largest markets overall, experienced slight growth of 2 percent. As for US pork exports from Jan- uary to June, volume is up 2 percent globally and 5 percent measured in value. Korea is also a top market for

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