The trade volume is being diverted from Suez to route around South Africa’s Cape of Good Hope, the International Monetary Fund reports
The Suez and Panama Canals have seen drops in trade of 50% and 32% respectively during January and February, compared with the same months in 2023, the International Monetary Fund (IMF) is reporting.
According to the fund’s information, transit trade fell in the first two months of 2024 due to Houthi attacks in the Red Sea and to drought affecting the Panama Canal.
Meanwhile, trade volume via the Cape of Good Hope, the most South-Western point of the African continent, went up by 74% in that same period.
Attacks on vessels in the Red Sea region decreased traffic via the Suez Canal, a vital route between Asia and Europe that ordinarily handles about 15% of global maritime trade. Consequently, numerous shipping firms rerouted vessels around the Cape of Good Hope, lengthening average delivery times by over ten days. ....more below
Ghana is interested in purchasing a floating nuclear power plant from Russia, Ghanaian Ambassador to Russian Koma Steem Jehu-Appiah told Sputnik.
"I know that our minister of energy was here last year and signed a corresponding agreement. I think this is innovative, and in a conversation with the minister of energy, he said that the country is interested.
So, Ghana could purchase such a nuclear power plant," the diplomat said when asked about the possibility of Ghana purchasing a floating nuclear power plant.
Russia and Ghana began cooperation in the field of nuclear energy after signing an intergovernmental agreement in 2015.
The agreement outlined plans for joint work in the areas of training specialists, building nuclear power plants and related infrastructure, and providing maintenance services. In October 2023, representatives of Rosatom met with the Ghanaian Ministry of Energy in Cape Town. At the meeting, Russia proposed using floating nuclear power plants to supply power to ...
