# Freight through Suez Canal down 45% since Houthi attacks - UNCTAD | Reuters

> UNCTAD says freight through the Suez Canal fell 45% following Houthi attacks. Panama Canal shipping in December was down 36% year-on-year because of drought-related low water levels. Grain and oilseed flows were also cited among three disrupted global trade routes.

- Date: 2024-01-26 · published 2024-01-26T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/32020-freight-through-suez-canal-down-45-since-houthi-attacks-unctad-reuters
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Sharply reduced Suez and Panama throughput lengthens routes and lifts ocean freight costs, raising the delivered cost of grains and oilseeds and supporting ocean freight rates.

## Read by commodity

- SBM: neutral
- SOY: neutral
- CORN: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2026-01-19 | [Rising Freight Costs Reshape Global Soybean Competition - RFD](https://feedsoft.ai/events/21222-rising-freight-costs-reshape-global-soybean-competition-rfd.md) | +2.0% | +5.5% |
| SBM | 2023-07-21 | [Drought threatens return of shipping disruption on US waterways - The Loadstar](https://feedsoft.ai/events/35231-drought-threatens-return-of-shipping-disruption-on-us-waterways-the-loadstar.md) | +4.5% | -7.2% |
| SBM | 2024-06-06 | [Port strike suspended at Argentine grains hub, ensuring flow of goods \| Reuters](https://feedsoft.ai/events/13916-port-strike-suspended-at-argentine-grains-hub-ensuring-flow-of-goods-reuters.md) | +0.1% | +4.6% |
| SBM | 2021-03-23 | [Argentina's crush workers suspend strike threat pending fresh talks - Fastmarkets](https://feedsoft.ai/events/47974-argentina-s-crush-workers-suspend-strike-threat-pending-fresh-talks-fastmarkets.md) | -0.1% | +2.6% |
| SBM | 2026-04-25 | [Argentina truckers end protest at Quequen grain port \| Reuters](https://feedsoft.ai/events/13799-argentina-truckers-end-protest-at-quequen-grain-port-reuters.md) | -0.0% | +4.0% |
| CORN | 2024-07-17 | [La Ñina boosts the Panama Canal; Houthi threat drives up shipping costs through the Suez](https://feedsoft.ai/events/17016-la-nina-boosts-the-panama-canal-houthi-threat-drives-up-shipping-costs-through.md) | +2.6% | -1.3% |
| CORN | 2025-02-07 | [Transits Through the Panama Canal are Down 10%  \| SupplyChainBrain](https://feedsoft.ai/events/16969-transits-through-the-panama-canal-are-down-10-supplychainbrain.md) | +1.5% | -6.3% |
| CORN | 2019-07-12 | [Panama Canal Authority suspends latest draft restrictions on ships - FreightWaves](https://feedsoft.ai/events/57985-panama-canal-authority-suspends-latest-draft-restrictions-on-ships-freightwaves.md) | -3.2% | -7.0% |

## Sources

- reuters.com: https://www.reuters.com/world/middle-east/freight-through-suez-canal-down-45-since-houthi-attacks-unctad-2024-01-26/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.