RED SEA SHIPPING RECOVERS, BUT COSTS REMAIN HIGH Bank of America reports Red Sea shipping traffic has recovered to 65% of normal levels, up…
RED SEA SHIPPING RECOVERS, BUT COSTS REMAIN HIGH
Bank of America reports Red Sea shipping traffic has recovered to 65% of normal levels, up from 50% in September.
However, oil tanker rates remain elevated at up to $650,000 per day, while dry bulk rates are up 31% year-over-year.
The key takeaway: Shipping is recovering, but high freight costs continue to threaten global inflation.
Source: Bank of America Research