KOLKATA, JANUARY 28: The Suez Canal crisis has prompted an inter-ministerial huddle as market observers fear exporters will be hit if the situation remains tense over the next few quarters. Freight moving through the Suez Canal has dropped 45% in 2 months since the attacks by Yemen’s Houthis. Shipping companies are diverting freight through Cape of Good Hope now. “We are conscious of the fact that the Suez Canal route is very important for us. Indian companies use the Red Sea route through the Suez Canal to trade with Europe, North America, North Africa and parts of West Asia.

Source: The North Africa Journal January 28, 2024 17:13 UTC