Maersk Container Industry (MCI) is quitting the dry container trade to focus on growing its reefer business.
Refrigerated container volumes are growing as global demand for fresh produce and other commodities increases, while the market for dry containers remains “challenged”, the company said in a release.
“MCI’s strategy is to grow in cold chain where our Star Cool technology is a clear leader. This growth requires focused investment in the best products and services,” said Sean Fitzgerald, chief executive of Maersk Container Industry.
Currently, around 30% of refrigerated containers used in perishable transportation worldwide use Star Cool container technology, which is manufactured by MCI.
The decision means the company will cease operations at its production facility in Dongguan, China, which manufactures dry containers.
The factory has been idle since the beginning of December 2018 “due to the tough market conditions”, Sean Fitzgerald said.
MCI’s other facilities will continue to operate as usual.
In November, the company launched Sekstant Global Guidance solutions, an ‘Internet of Things’ technology that tracks the operational data of individual reefer containers.
