Just when you thought it was safe to go back through the Bab el-Mandab... they're back! In this episode of What's Going on With Shipping?, Sal Mercogliano analyzes the recent announcement from the Houthi forces declaring a complete blockade against Israeli-owned and Israeli-flagged vessels. We dive into the data to see what’s actually happening on the water right now, the history of these attacks since November 2023, and the massive impact this could have on global trade. With 15% of global shipping passing through the "BAM" and 11% through the Strait of Hormuz, a "triple shutdown" (including the Suez Canal) would be a nightmare scenario for global supply chains. In this video: ▶️Breakdown of the official Houthi statement. ▶️Current Marine Traffic data: Is the strait actually closed? ▶️The economic cost: War risk insurance vs. rerouting around Africa. ▶️How Saudi Arabia and Persian Gulf nations are bypassing the threat via overland routes. ▶️The danger of a multi-chokepoint shutdown. 00:00 The Houthis are Back! 01:40 The Statement: Total Ban on Israeli Navigation 03:15 Current Marine Traffic: Analyzing the "Blockade" 04:45 A Recap of Attacks Since November 2023 06:35 Economic Impact: Rerouting and Insurance Costs 09:05 How Shipping Lines are Bypassing the Chokepoints 12:50 The Nightmare Scenario: A Triple Chokepoint Shutdown Contact What's Going on With Shipping via: Patreon: www.patreon.com/wgowshipping Twitter: @mercoglianos Bluesky: @mercoglianos.bsky.social Facebook: @wgowshipping Email: mercoglianosal@gmail.com Marine Traffic www.marinetraffic.com Houthis declare ‘total ban’ on Israeli ships in Red Sea as Israel-Iran strikes shatter ceasefire https://www.lloydslist.com/LL1157398/Houthis-declare-total-ban-on-Israeli-ships-in-Red-Sea-as-Israel-Iran-strikes-shatter-ceasefire UKMTO JMIC Advisory https://www.ukmto.org/partner-products/jmic-products IMF Portwatch https://portwatch.imf.org/