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Suez Canal transits fell 49% in September 2024 compared with the prior year, with container ship transits down 71% over the first nine months. Bulk carrier, product tanker and crude tanker transits also declined, and container freight rates are stabilizing at levels above a year earlier.
Persistent Red Sea rerouting keeps ocean freight and transit times elevated, raising delivered costs for grain and feed imports into Mediterranean and European ports. The stabilization of rates limits further upside.
ispionline.itAlessandro PanaroNov 24, 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.
