# Rates jump as Israeli shipping reroutes around Africa - Globes

> 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.

- Date: 2023-07-12 · published 2023-07-12T12:00:00.000Z
- Category: geopolitics · region Red Sea · magnitude medium
- Page: https://feedsoft.ai/events/34950-rates-jump-as-israeli-shipping-reroutes-around-africa-globes
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

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.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- en.globes.co.il: https://en.globes.co.il/en/article-shipping-prices-jump-as-israeli-shipping-reroutes-around-africa-1001464453

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.