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

29 Jan 2024 CW Team

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.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..