The import and export industry had a tough 2009 with total shipments being down more than 12 percent from 2008 and far below that when compared to 2007. The carrier industry struggled mightily as the economic downturn was compounded by a slew of new vessels coming on line as shipping volumes tanked around the world. This led the carrier industry to lose hundreds of millions of dollars as the rates for containers dropped when they could least afford it.
Food imports and exports have not faced all of the struggles that other industries have. While industries associated with housing were down more than 20 percent, imports and exports of food products have remained relatively stable and for the most part kept their normal business cycles over the last 12 months. However, over the next year, importers and exporters can expect to pay more to ship their products as carriers attempt to regain profitability. Compounding the situation, the demand for refrigerated containers is high as the world now eats from around the globe.