UNCTAD reports 45% decline in Suez Canal freight post Houthi attacks
PORTS & SHIPPING

UNCTAD reports 45% decline in Suez Canal freight post Houthi attacks

The United Nations Conference on Trade and Development (UNCTAD) has revealed a significant 45% decline in freight passing through the Suez Canal since the recent Houthi attacks. The report highlights the economic repercussions of the attacks on one of the world's busiest and strategically vital waterways.

UNCTAD's findings indicate a sharp decrease in the volume of goods transported through the Suez Canal, emphasizing the immediate impact of geopolitical events on global trade routes. The decline raises concerns about disruptions in supply chains and increased costs for shipping companies navigating alternative routes.

The Houthi attacks have heightened uncertainties surrounding the security and stability of maritime trade routes, particularly those crucial for international commerce. The Suez Canal, linking the Mediterranean and Red Seas, serves as a vital shortcut for ships, and any disturbance in its operations has ripple effects on the global shipping industry.

The UNCTAD report underscores the need for collaborative efforts to address the challenges posed by geopolitical tensions in the region. The decline in Suez Canal freight serves as a reminder of the interconnectedness of the global economy and the vulnerability of key trade routes to geopolitical disturbances.

As stakeholders assess the situation, the international community is likely to closely monitor developments in the region to mitigate potential disruptions to maritime trade. The UNCTAD report sheds light on the immediate consequences of the Houthi attacks on the Suez Canal and prompts discussions on strategies to safeguard the stability of global shipping routes.

The United Nations Conference on Trade and Development (UNCTAD) has revealed a significant 45% decline in freight passing through the Suez Canal since the recent Houthi attacks. The report highlights the economic repercussions of the attacks on one of the world's busiest and strategically vital waterways. UNCTAD's findings indicate a sharp decrease in the volume of goods transported through the Suez Canal, emphasizing the immediate impact of geopolitical events on global trade routes. The decline raises concerns about disruptions in supply chains and increased costs for shipping companies navigating alternative routes. The Houthi attacks have heightened uncertainties surrounding the security and stability of maritime trade routes, particularly those crucial for international commerce. The Suez Canal, linking the Mediterranean and Red Seas, serves as a vital shortcut for ships, and any disturbance in its operations has ripple effects on the global shipping industry. The UNCTAD report underscores the need for collaborative efforts to address the challenges posed by geopolitical tensions in the region. The decline in Suez Canal freight serves as a reminder of the interconnectedness of the global economy and the vulnerability of key trade routes to geopolitical disturbances. As stakeholders assess the situation, the international community is likely to closely monitor developments in the region to mitigate potential disruptions to maritime trade. The UNCTAD report sheds light on the immediate consequences of the Houthi attacks on the Suez Canal and prompts discussions on strategies to safeguard the stability of global shipping routes.

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?