# Suez, Panama canal disruptions drive up freight rates, slow ag shipping | Agri-Pulse Communications, Inc.

> Houthi attacks in the Red Sea and drought-related restrictions on the Panama Canal are forcing ships onto longer routes and pushing up grain freight costs. The IGC shipping cost index rose above 50 points from mid-2023 to 171 by January 2.

- Date: 2024-01-31 · published 2024-01-31T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/14330-suez-panama-canal-disruptions-drive-up-freight-rates-slow-ag-shipping-agri
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Higher ocean freight raises landed costs for grain and oilseed importers and narrows export margins for US and other exporters.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- agri-pulse.com: https://www.agri-pulse.com/articles/20565-suez-panama-canal-disruptions-drive-up-freight-rates-slow-ag-shipping

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.