With no end in sight for the Red Sea crisis, detours around Africa’s Cape of Good Hope are soaking up even more vessel capacity and pushing up spot rates across multiple shipping segments.
Freight fallout began with container ships. It is now significantly impacting product tankers — the vessels that transport gasoline, diesel, jet fuel, naphtha and other petroleum products.
Larger product tankers that do long-haul runs are diverting around Africa in increasing numbers. These ship types include...
https://www.freightwaves.com/news/shipping-fallout-from-red-sea-crisis-spreads-to-product-tankers