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Fitch Ratings says Red Sea rerouting has pushed ocean spot freight rates above 2023 levels, with carriers including MSC, Maersk and Cosco charging more. The rate gains are expected to flow into contracted revenue in the second and third quarters of 2024.
Higher spot freight rates raise the cost of moving feed ingredients by sea, particularly on long routes. The effect depends on how long the Red Sea disruption lasts.
wwd.comGlenn TaylorSep 3, 2019Not 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.
