Asia-Europe container freight futures experienced a sell-off on 13 October as the Israel-Hamas ceasefire suggested a possible resumption of Red Sea transits.
Since October 2023, when the Israel-Hamas conflict broke out, mainline operators had been detouring round the Cape of Good Hope for Asia-Europe routes to avert Houthi assaults.
However, US President Donald Trump’s brokering of a ceasefire, announced on Friday, and Hamas’ return of Israeli hostages, triggered speculation that shipping lines could resume Suez Canal crossings.
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