# Suez Canal works to clear backlog as shipping convoys resume

> Reuters reported that the Suez Canal expected 140 ships to pass as convoys resumed on March 30. The blockage had disrupted global supply chains and nearly doubled rates for oil product tankers.

- Date: 2021-03-30 · published 2021-03-30T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/48034-suez-canal-works-to-clear-backlog-as-shipping-convoys-resume
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Resumed convoys reduce the backlog that had been driving tanker and freight rates higher. Easing shipping costs help ease landed costs for feed ingredients.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/middle-east/more-than-100-ships-passed-through-suez-canal-after-shipping-restart-egyptian-tv-2021-03-30/

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