Frieght through Suez Canal shrinks 50%
Results in delays, higher costs, higher greenhouse gas emissions
image for illustrative purpose
London: Freight travelling through the Suez Canal has almost halved since Yemen’s Houthi rebels began attacking cargo ships in the Red Sea, Sky News reported.The key shipping lane links producers in the Asia-Pacific region and Western markets -- and longer, alternative routes have caused delays and increased costs.
UNCTAD (United Nations Conference on Trade and Development), which supports developing countries in global trade, said the number of ships using the canal over the last two months had fallen by 39 per cent, leading to a 45 per cent decline in freight tonnage, Sky News reported.
Now, three key global trade routes disrupted, following Russia’s invasion of Ukraine and the Panama Canal.
