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Globes reports that Houthi attacks in the Red Sea hit several ships, prompting shipping reroutes around Africa and higher rates for Israeli trade. The article also notes that Western navies are considering a task force for the Bab al-Mandab strait.
Rerouting around Africa adds voyage time and cost, which lifts freight rates for grain and oilseed cargoes moving between Black Sea, South American and Asian origins.
en.globes.co.ilAssaf GileadJul 12, 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.
