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Nexterus, a third-party logistics provider, says container carriers are diverting ships away from the Red Sea after Houthi militant attacks and threats against vessels bound for Israel. Rerouting around the Cape of Good Hope adds 10 to 14 days to voyages and is causing port backups and vessel shortages.
Longer voyages absorb container capacity and push up freight rates, raising costs for feed ingredients moving by ocean on Asia-Europe and transpacific routes.
nexterus.comNextGen CreativeJan 4, 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.
