African Ports Capture Little of Traffic Rerouted by Iran War

African ports are capturing only a fraction of shipping rerouted around the continent’s southern tip after the closure of the Strait of Hormuz, underscoring their limited ability to turn global trade disruptions into gains.

Since the chokepoint shut on Feb. 28 due to the US-Israel war with Iran, vessels have rerouted around the Cape of Good Hope as an alternative to a corridor that normally carries about a quarter of the world’s seaborne oil along with large volumes of liquefied natural gas and fertilizers.

While the detour has driven traffic around southern Africa up as much as 90%, it hasn’t ...