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container freight rates

container ship cargo vessel ocean shipping route Africa Cape of Good Hope - Photo by Andrew Harvard

Business

Shipping Companies Reroute Around Africa: The $8 Billion Monthly Cost of Avoiding Hormuz

Maersk, CMA CGM, MSC, and Hapag-Lloyd have all suspended Hormuz transit and are routing vessels around the Cape of Good Hope. The detour adds 10–14 days per voyage, has tripled insurance premiums, pushed container spot…

Mar 21, 2026