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Freight volumes through the Suez Canal fell about 45% after Iran-backed Houthi militants began attacking vessels in the Red Sea. UNCTAD reported 39% fewer ships transiting than in early December, and container shipments dropped 82% in the week to January 19.
Ships diverted around Africa lengthen voyages and tie up freight capacity, which tends to raise ocean freight rates and delivered costs for imported feed ingredients.
business.sherbrookerecord.comBy: FOX BusinessMay 25, 2018Not 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.
