WASHINGTON, January 11. /TASS/. Cargo traffic through the Suez Canal fell by 28% in the final days of 2023 due to attacks on ships by Yemen's Houthi rebels from the Ansar Allah movement, IMF spokeswoman Julie Kozack told reporters.
"Transport through the Red Sea accounts for 10% of global trade flows. They [attacks - TASS] are raising both shipping times and shipping costs for exporters and importers. And this could renew upward pressure on prices," Kozack said when asked to comment on the impact of Houthi attacks on ships in the Red Sea.
According to her, "the volume of shipping through the Suez Canal has decreased by 28% year over year during the 10 days of that ended on January 2." In the meantime, "shipping volumes going through the Cape of Good Hope, increased by 67%," she said.
"Obviously, this is an issue that we're closely monitoring, and we will aim to continue to keep you updated on this issue," she concluded.
Following the escalation of the Palestinian-Israeli conflict in the Gaza Strip, Yemen's Houthi rebels said they would carry out attacks on Israeli territory and will not allow associated ships to pass through the waters of the Red Sea and the Bab el-Mandeb Strait until the operation in the Palestinian enclave is stopped. In response, US authorities launched the Prosperity Guardian operation in the Red Sea to ensure freedom of navigation and security of ships.