# World trade growth improves but conditions remain challenging | World Ports Organization

> Roughly 60% of shipping traffic is avoiding the Red Sea and Suez Canal in favour of the Cape of Good Hope route, a diversion expected to last into the second half of the year. Container spot rates are rising earlier than usual ahead of the peak season. Congestion and demand recovery add to pressure on trade flows.

- Date: 2024-08-06 · published 2024-08-06T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/17010-world-trade-growth-improves-but-conditions-remain-challenging-world-ports
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Longer routing and higher freight costs increase delivered prices for imported feed ingredients and can shift trade flows for grain and oilseeds.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- worldports.org: https://www.worldports.org/world-trade-growth-improves-but-conditions-remain-challenging/

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