The 2024 data from the World Shipping Council and South African Maritime Safety Authority underscores a specific and growing operational risk for global shipping: increased container loss due to rerouting around the Cape of Good Hope, which has replaced the Red Sea-Suez Canal corridor for many vessels due to geopolitical instability.
The prime suspect is geography.
With liner services diverting away from the Red Sea, hundreds of Asia-Europe ships rounded the Cape of Good Hope instead. The storm-ridden waters at Africa’s southern tip quickly lived up to their reputation.
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