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Tag Archives global shipping

Photo: Thinkstock
Markets, Reuters

Container rates soar on concerns of prolonged Red Sea disruption, inflation

U.S. and British militaries have advised all ships to steer clear of the conflict zone

By , ,
Reading Time: 2 minutes Container shipping rates for key global trade routes have soared this week, with U.S. and UK air strikes on Yemen stirring fears of a prolonged disruption to global trade in Red Sea, one of the world's busiest routes, industry officials said on Friday.
Container ships pass through locks on the Panama Canal in this file photo. (CIA.gov)
General, Markets, Reuters

Panama Canal drought to delay grain ships well into 2024

Wait times more than doubled between October and late November, prompting some shippers to reroute

By ,
Reading Time: 3 minutes Bulk grain shippers hauling crops from the U.S. Gulf Coast export hub to Asia are sailing longer routes and paying higher freight costs to avoid vessel congestion and record-high transit fees in the drought-hit Panama Canal, traders and analysts said.
(MiCanalDePanama.com)
General, Markets

Baltic Dry Index at 18-month high

Restrictions at the Panama Canal and congestion at Brazilian ports behind rate hike

Reading Time: 2 minutes The Baltic Dry Index (BDI), a major indicator of bulk shipping rates, has climbed sharply higher over the past few weeks to hit its highest level in 18 months.

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