A ceasefire in the Gaza conflict could potentially end attacks in the Red Sea, reopening the Suez Canal and normalising the Asia-to-Europe container shipping route.
- Gaza ceasefire could stop Houthi attacks on Red Sea shipping
- Route via Cape of Good Hope takes 10 days longer than Suez Canal
- Reopening Suez would add 10 days of chemicals inventory to the market
- Europe would be open to more Asia exports
- Freight rates could fall as container capacity is freed up
- ‘Stunning’ levels of overcapacity expected in China in 2025
- New Cefic report highlights need for new Europe industrial deal for chemicals
ICIS - chemical podcasts