Freight movement through the Suez Canal has decreased by about 45% in the past two months amid the Red Sea crisis, according to the UN’s trade and development body.
UNCTAD has said the situation in the Red Sea and attacks by Houthis on container ships, geopolitical tensions affecting shipping in the Black Sea ( Russia-Ukraine conflict) as well as the impacts of climate change on the Panama Canal, have given rise to a complex and profound crisis.
