We also look at the impact on Saudi oil exports from Yanbu, the role of Russian and Chinese shipping in the region, and the growing dangers of "dark fleet" tankers like the Carolyn Benzeni off the coast of Oman. As freedom of the seas faces its greatest challenge in decades, what does this mean for global trade and the price of oil? Houthi Blockade Analysis: A look at the recent attacks on Saudi tankers Encilia and Layla and the Houthi declaration of a maritime embargo against Saudi Arabia. The "Double Chokehold": How simultaneous pressure on the Strait of Hormuz and the Bab el-Mandeb is threatening critical Saudi oil pipelines and global supply lines. Economic Ripple Effects: The impact of skyrocketing war risk insurance—jumping from 3% to 7.5%—and what this means for the cost of moving goods through the region. Inefficient Alternatives: Why rerouting oil through the Suez Canal involves complex ship-to-ship transfers and how this mirrors the logistical challenges currently faced by Russian oil exports. The Dark Fleet Threat: The environmental and legal risks highlighted by the breaking up of the Carolyn Benzeni off the coast of Oman. Freedom of the Seas: A broader discussion on the challenges facing global naval forces and the shifting dominance in the world's shipbuilding market. 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 00:00 - Introduction 00:50 - Houthi Maritime Embargo Against Saudi Arabia 02:19 - Attack on Tankers: Amfilia and Laela 02:52 - Impact on Shipping and War Risk Insurance 04:16 - Selective Transit: Chinese and Russian Vessels 04:55 - U.S. Response and Geopolitical Context 05:55 - Two Chokepoints Locked: Hormuz and Bab el-Mandeb 06:19 - Challenges of Rerouting Oil Through the Suez Canal 08:02 - Dark Fleet Dangers: Carolyn Benzeni and Cabo Malalius 09:30 - Global Shipping at Peril: A Multi-Dimensional Conflict 11:36 - The Cost of Freedom of the Seas
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