# Red Sea Crisis Delivers Ocean Freight's Likely Return to Profitability

> 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.

- Date: 2019-09-03 · published 2019-09-03T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/56998-red-sea-crisis-delivers-ocean-freight-s-likely-return-to-profitability
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

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.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- wwd.com: https://wwd.com/sourcing-journal/logistics/red-sea-container-shipping-ocean-freight-rates-profitability-fitch-ratings-maersk-msc-hapag-lloyd-cma-cgm-suez-canal-1238831343/

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