A top U.N. trade body says weekly container-ship traffic through the Suez Canal has plunged by more than two-thirds from peak levels as shipping companies avoid the Red Sea over attacks on shipping by Yemen’s Houthi rebels. The U.N. Conference on Trade and Development said the traffic has declined by 67% from peak levels while overall traffic — including tanker transits and gas carriers — has fallen by 42%
Quick Read
- The U.N. Conference on Trade and Development reports a significant 67% decrease in weekly container-ship traffic through the Suez Canal due to Houthi rebel attacks in the Red Sea.
- Overall canal traffic, including tankers and gas carriers, has dropped by 42%, affecting trade flows, particularly for African nations like Djibouti, Kenya, and Tanzania.
- The environmental impact is notable, with rerouted ships around Africa leading to increased carbon emissions due to longer distances and higher speeds.
- UNCTAD estimates up to a 70% rise in greenhouse gas emissions for round trips, such as Singapore to Rotterdam, due to higher fuel consumption.
The Associated Press has the story:
UN Trade: Suez Canal traffic of container ships drops by 67% due to Houthi attacks
Newslooks- GENEVA — (AP)
A top U.N. trade body says weekly container-ship traffic through the Suez Canal has plunged by more than two-thirds from peak levels as shipping companies avoid the Red Sea over attacks on shipping by Yemen’s Houthi rebels.
The U.N. Conference on Trade and Development said the traffic has declined by 67% from peak levels while overall traffic — including tanker transits and gas carriers — has fallen by 42%.
UNCTAD also highlighted the impact on trade, especially of African countries such as Djibouti, Kenya and Tanzania, which count on the flow of goods through the canal. It also underscored the environmental fallout as ships reroute southward around Africa.
Jan Hoffmann, head of UNCTAD trade logistics, said the combined effect of the longer distances that ships travel around the Cape of Good Hope and the faster speeds at which they travel to make up lost time have caused “exponentially more” carbon emissions.
UNCTAD said it estimates that higher fuel consumption could result in as much as a 70% increase in greenhouse gas emissions for a Singapore-Rotterdam round trip, for example.
