Reefer cargo to Middle Eastern destinations has seen a “negative spiral”, as a direct result of the Cape of Good Hope diversions with carriers taking a more direct route from Europe to the Far East.
A Xeneta analysis of two reefer trades from Europe to the Arabian Gulf and Southeast Asian destinations highlights the effects on both trades, as a result of the conflict in Gaza, which has seen Yemen’s Houthi Movement effectively close the Red Sea and Suez Canal route to ocean trade.
Red Sea...
https://container-news.com/divergence-in-reefer-markets-in-wake-of-gaza-war/