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Reefer Industry Story<br />
• Need for speedy transport of perishable and seasonable fruits<br />
• Influx of newbuildings during 80’s and mid 90’s<br />
• Impacts of El Niño and La Niña<br />
• USD appreciation of some 20% during 90’s<br />
• EU enacted a restrictive quota system for bananas in 1993<br />
• Collapse of USSR during mid-90’s<br />
• Fruit majors suffering at end of 90’s<br />
• Commission driven market players<br />
• High tech storage technology - controlled atmosphere<br />
• Container influx and penetration<br />
Since 1990 negative factors have hit the reefer industry hard