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UNCTAD Calls for Global Cooperation in Shipping

Global trade is experiencing disruptions due to challenges at the Suez and Panama Canals, influenced by geopolitical tensions and climate risks. Traffic through the Suez Canal has seen a significant decline, while the Panama Canal is gradually recovering. The reliance on longer shipping routes has led to increased port congestion, higher fuel consumption, and greater risks of piracy, all contributing to elevated costs and greenhouse gas emissions.

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