2023 ended with new disruptions for trade and supply chains following the security issues in the Red Sea. To avoid militant attacks on vessels in the Gulf of Aden and the Red Sea, shipping companies and their clients continue to avoid the major Suez Canal route, which handles around 12% of global trade and are re-routing vessels around the Cape of Good Hope.

Almost half of vessels have been re-routed around the Cape of Good Hope in January. At this stage, we haven’t seen significant impacts on construction product prices but it is too early at this stage to see the full effects.

I'm interested in:

• Construction Products Association
• CPA