Trade
Twin Crises Send Cargo Ships Back to 18th Century Trade Routes
- Number of container ships diverting around Suez nears 180
- Freight rates creep higher as capacity strains help carriers
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A year that started with smooth sailing for the global economy — vanishing supply snarls, slower inflation and fading pandemic gloom — is ending with another gathering storm as the maritime industry and retailers that rely on it confront crises in the world’s two big ocean-to-ocean canals.