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Maersk reports UK Maritime Trade Operations counts 33 attacks in the Red Sea and Gulf of Aden, with most carriers rerouting around the Cape of Good Hope, adding about 4,000 miles and 1-3 weeks of transit. Maersk estimates the industry needs 6-7% additional capacity to handle regular volume, and port bottlenecks persist.
Capacity shortfalls and longer voyages raise logistics costs and delay feed ingredient shipments, supporting higher ocean freight rates and tighter supply to importers.
maersk.comMaerskMay 15, 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.
