Red Sea attacks halving Suez Canal trade ...News

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Red Sea attacks halving Suez Canal trade
The trade volume was diverted from Suez to route around South African Cape of Good Hope, the International Monetary Fund reports The Suez and Panama Canals have seen drops in trade of 50% and 32% respectively during January and February, compared with the same months in 2023, the International Monetary Fund (IMF) is reporting. According to the fund’s information, transit trade fell in the first two months of 2024 due to Houthi attacks in the Red Sea and to drought affecting the Panama Canal. Meanwhile, trade volume via the Cape of Good Hope, the most South-Western point of the African continent, went up by 74% in

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