b'18American Journal of Transportation ajot.comSeaCube strengthens surging reefer container businessBy Tad Thompson, AJOTSeaCube Containers LLCCubemakesitthenumber in recent years has emphasizedone priority to meet the cus-the development of its refriger- tomersrequirementsand ated container leasing business.thereforepurchasesequip-Thatskyrocketingbusinessment,reefermachineryand nowrepresents68%ofthetechnologysolutionsfrom firms fleet asset investment. various supplier partners. GregTuthill,seniorviceThatsaid,onApril19, president and chief commercialSeaCubeandCarrierTran-officer,discussedthisback- sicoldannouncedastrategic ground and specific directionsrefrigerated asset management ofSeaCubeinanearly-Junesystems platform engagement. interviewwiththeAmericanAs a result, SeaCube will Journal of Transportation. be the first intermodal equip-SeaCube owns more thanmentleasingcompanyto $3 billion in equipment assetsincorporateCarriersLynx in total fleet value, as it leasesFleetsolutionintoitsfleet ocean containers to large- andwith an initial deployment of medium-sized steamship lines.2,000 PrimeLINE refrigerated Beyondleasing,SeaCubecontainer units. offersvariousfinancingsolu- (SURGINGcontinued on tionstosupportcarrierswhopage 20)want to maintain their own cap-ital through the use of equip-ment purchased by others. SeaCubeisinvesting between$500millionand $700 million per year in new containers.TuthillsaidSeaCubes investment in refrigerated con-tainers has particularly escalated since Robert Sappio became the firms CEO in 2017.Greg Tuthill, senior VP & chief commercial officer, SeacubeThis strategy reflects Sea-Cubesglobalviewofthe strongfutureofrefrigerated cargo.This is driven by global trends in food consumption and food outsourcing.Throughout theworld,consumersinter-ested in healthy diets are paying forfreshfoodsfromaround theglobetoenjoysuchfare throughout the calendar year. Tuthillnoted,forexam-ple, that California was once the sole source for U.S. con-sumers avocado production. Now avocados are imported frommanycountries,with reefer ocean containers being central to much of that trade.Beyondfreshfruitsand vegetables,freshseafoodis increasinglyshippedonthe high seas.This is in part driven byincreasedfishfarmingin many countries.t eChnologyt heK ey : s ea C ube -t ransIColdP latforMWith the increased busi-ness, SeaCube has stepped up its technological support.TuthillnotedthatSea-'