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It's a bit more nuanced than that, of course. At double the Influence Point cost and higher upkeep cost, Reefer's are more of a specialization ship. Like you don't really want to use them in all your trade routes (I mean you can if you have the money and points to spare), but it's more like you use them for consumable goods that need to be replenished fast, like Coffee, Rum, Cigars, etc.
Cargo ships are still good with their two item slots. You can put an engine to increase speed and reduce cargo slowdown, AND a white flag to prevent them from being attacked. And again, at half the Influence Point cost, you can get two for the price of one Reefer.
I hate to said this, Reefer is petty much useless, nice to had only because look of ship and use for regions, but I prefer cargo ship with specialization item and airship, but if only Reefer's had more item spot, that might be other story.
So for less influence, on the long term, the cargo is better, especially if your ships visit many islands in the same region.
But if you haven't got access to that specialist you could make Cargo Ships for local intra-regional trade while your World Class Reefers handle all the inter-region trade.
Or if you can stomach making nice with Anne Harlow, she sells the Extravaganza Steamers pretty regularly. You may have to buy the pirate gunboats and frigates, and resell them to Blake to get them out of the way for an Extravaganza to spawn, but it's not terrible.
Bad New, enemies would had war airship, so it's meaning no longer safe for trade airship, however, I'm not sure there is white flag for airship now that a.i might build war airship (Now on other hand, I'm not sure War airship able to destroy on ship on sea/ocean, I know they can shoot other airship for sure.