Market News & Headlines >> More Grain Ships Diverted From Red Sea
More ships carrying grain were diverted from the Suez Canal to sailings around the Cape of Good Hope last week as Houthi attacks on vessels in the Red Sea continued, shipping analysts told Reuters News Service on Friday.
“Another 16 vessels were confirmed diverted this week, taking the total grain cargoes diverted to some 3.9 million (metric) tons, up from 3.0 million tons last week, said Ishan Bhanu, lead agricultural commodities analyst at data provider and analysts Kpler.
The Houthis, who control much of Yemen, have launched drone and missile attacks on ships in solidarity with Palestinians in Gaza. The Houthis say they have been targeting vessels that had Israeli links or had been sailing to Israel. “Many of the diverted ships are carrying U.S. grain cargoes showing caution with this freight,” Bhanu said.
However, substantial numbers of grain vessels are still sailing through the Red Sea, Bhanu said. He estimated that some 2.4 million tons of grain will transit the Suez Canal in January compared with 6.6 million tons in December 2023 and 6.4 million tons in January 2023.
We have seen no reports of any grain shipments being cancelled because of the situation in the Red Sea.