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Houthi attacks on commercial vessels in the Red Sea have now continued for a full year, with over 90 vessels targeted and two sunk. Major carriers still avoid the Suez Canal, and November 2024 Suez container transits fell 72% from November 2023.
Transit times rose sharply on Asia-US East Coast and Asia-Europe lanes, and schedules still show 4-6 day delays.
Longer routings around Africa absorb vessel capacity and keep ocean freight rates elevated, which raises landed costs for imported feed ingredients.
project44.comDec 10, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
