Insights and Stories on Global Shipping

Jan. 16, 2024 at 10:18 am CST

An attack on a dry bulk carrier this week in the Red Sea region is set to lead to more diversions of grain cargoes around the Cape of Good Hope but most are still willing to risk using the Suez Canal for now, shipping sources said on Tuesday.

By Reuters

Jan. 12, 2024 at 1:43 pm CST

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.

By Jonathan Saul, Lisa Baertlein, Reuters

Dec. 11, 2023 at 9:18 am CST

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.

By Karl Plume, Reuters

Dec. 5, 2023 at 12:28 pm CST

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.