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Bulk carriers bound for Asia have shifted from the Panama Canal to Suez and increasingly to the Cape of Good Hope, as Red Sea insecurity grows. Panama transits fell to a record low of 106 ships per month while Suez transits hit a record 772.
The analysis expects longer voyages to tighten ship availability in the North Atlantic and Black Sea.
Longer repositioning times and higher ton-miles tighten vessel supply and push up freight costs for grain shipments from the Atlantic basin and Black Sea.
ifchorgalbraiths.comResearch, AdvisoryDec 20, 2023Not 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.
