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LEDERER The Associated Press,Updated January 25, 2024, 10:54 p.m. Email to a Friend Share on Facebook Share on TwitterPrint this Article View Comments The Suez Canal handled 12 to 15 percent of global trade in 2023, but UNCTAD estimates that the trade volume going through the waterway dropped by 42 percent over the last two months, Hoffmann said.Amr Nabil/Associated Press UNITED NATIONS — The U.N. trade body sounded an alarm Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal. Jan Hoffmann, a trade expert at the United Nations Conference on Trade and Development known as UNCTAD, warned that shipping costs have already surged and energy and food costs are being affected, raising inflation risks. Since attacks by Yemen’s Houthi rebels on ships in the Red Sea began in November, he said, major players in the shipping industry have temporarily halted using Egypt’s Suez Canal, a critical waterway connecting the Mediterranean Sea to the Red Sea and a vital route for energy and cargo between Asia and Europe. To continue reading, please login or subscribe to Globe.com Get 6 Months of Unlimited Access for $1 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Show comments MORE ON GLOBE.COM -------------------------------------------------------------------------------- CHEF BARBARA LYNCH TO HOLD ESTATE SALE WEEKS AFTER ANNOUNCEMENT OF RESTAURANT CLOSURES, $1.7 MILLION TAX LAWSUIT In October, Lynch announced she would be closing and selling her remaining restaurants, and the following month she was sued by Boston officials for unpaid property taxes. OPINION IN NEWTON, WE TRIED AN EXPERIMENT IN EDUCATIONAL EQUITY. IT HAS FAILED. “Multilevel classrooms” are not working for teachers or students, writes the head of Newton South High School’s Faculty Council. CELTICS NOTEBOOK CELTICS CATCH DREW PETERSON OFF GUARD WITH UNEXPECTEDLY BIG MINUTES Peterson, who is with the Celtics on a two-way contract, played a career-high 24:57 Sunday. He followed up Monday with 23 minutes against the Heat, his former team. PANEL FILES CHARGES AGAINST JUDGE SHELLEY JOSEPH WITH SJC FOR ‘WILLFULL JUDICIAL MISCONDUCT’ Judge Shelley M. Richmond Joseph allegedly helped an undocumented immigrant evade federal officials who showed up to arrest him in Newton District Court in April 2018. BIDEN’S PARDON OF HIS SON EXUDES ‘WHITE PRIVILEGE,’ LOCAL ADVOCATES SAY President Biden's pardon of his son, Hunter Biden, caused some to question the lack of second chances for people of color. UNCONVENTIONAL REVIEW AFTER LOSING ANOTHER GAME THERE FOR THE TAKING, A QUESTION: WHEN WILL THE PATRIOTS WIN AGAIN? Another four-win season for the Patriots wouldn’t exactly be progress, but it would come with some genuine hope considering Drake Maye’s excellent first impression. ‘MORTIFIED WE JUST WENT THROUGH THIS.’ MASS. PHOTOGRAPHER RECORDS RACIST ENCOUNTER WITH PASSENGER ON AIRPORT SHUTTLE BUS IN LA. In the viral video, an unidentified woman puts her middle fingers up and hurls insults at Pervez Taufiq. TRUMP SAYS HE WILL BLOCK ACQUISITION OF US STEEL BY JAPANESE FIRM “I am totally against the once great and powerful US Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump wrote in a post on Truth Social. “As President, I will block this deal from happening. Buyer Beware!!!” ‘I WISH THEY COULD BE HERE NOW’: WORCESTER REMEMBERS SIX FIREFIGHTERS KILLED 25 YEARS AGO IN WAREHOUSE BLAZE The legacy of the Worcester Six remains strong for many in this city. MOST READ IN THIS SECTION -------------------------------------------------------------------------------- BEFORE EXITING, BIDEN HEADS TO AFRICA TO HIGHLIGHT HIS OWN COUNTER TO CHINA. WILL TRUMP TAKE IT UP? SCIENTISTS GATHER TO DECODE PUZZLE OF THE WORLD’S RAREST WHALE IN ‘EXTRAORDINARY’ NEW ZEALAND STUDY Follow Us SUBSCRIBE NOW Digital Access Home Delivery Gift Subscriptions MY ACCOUNT Log In Manage My Account Customer Service Delivery Issues Feedback CONTACT Help & FAQs Staff List Advertise MORE Newsletters View the ePaper Order Back Issues News in Education Search the Archives Privacy Policy Terms of Service Terms of Purchase Contact Work at Boston Globe Media Internship Program Co-op Program Do Not Sell My Personal Information ©2024 Boston Globe Media Partners, LLC logo-white Created with Sketch. $1 FOR 8 MONTHS CYBER MONDAY SALE Don't miss our best sale of the year. Mobile App Games Newsletters Weather Get Access for $1 Sale ends tonight. Cancel anytime. Already a subscriber? 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