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Shipping a container from China to the Mediterranean rose 44% in December to $2,413 due to Red Sea disruptions. More ships are vowing to avoid the Red Sea waters.
Spot container rates are rising as carriers reroute around Africa.
Red Sea rerouting lengthens transit times and raises freight costs for global trade, which can increase costs for imported feed ingredients moving on containers and bulk vessels.
reuters.comVera EckertDec 21, 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.
