Red Sea Rerouting Creates Windfall for Cape of Good...
International News
January 31, 2024
The escalating tensions in the Red Sea have led international shipping companies to take detours around Africa's southernmost tip, the Cape of Good Hope. This rerouting has resulted in a windfall for the Port of Cape Town, as container ships detouring around the Cape of Good Hope extend shipping periods and increase shipping costs. The surge in shipping traffic at this strategic point is impacting the port's capacity and economic activity in the Western Cape.