"Red Sea Attacks and Global Trade Disruption: A Threat to Supply Chains"

The UN trade body has raised concerns about disruptions in global trade due to attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal. Shipping costs have surged, impacting energy and food costs and raising inflation risks. Attacks by Yemen’s Houthi rebels have led to a significant drop in trade volume through the Suez Canal, while the war in Ukraine and low water levels in the Panama Canal have further strained trade routes. These disruptions are causing increased costs for consumers and posing serious risks to global food security, with many ships seeking alternative routes and avoiding the Suez and Panama Canals.