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UNCTAD warns that Red Sea attacks have cut Suez Canal transits by 42% from peak and container transits by 67%. Panama Canal transits have fallen 49% from peak amid low water.
The report links these disruptions to the ongoing Black Sea shipping shifts.
Sustained transit losses raise freight rates and route uncertainty for bulk grain and oilseed trade, adding cost to feed raw materials and supporting prices in import markets.
unctad.orgFeb 22, 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.
