hotcouchguy

Sad to see random sailors get killed, but regardless still have to hand it to the Houthis for an extremely successful ongoing campaign. Shipping volumes passing through are down dramatically, and alternate routes are adding a lot of delay and expense. It's costing Egypt a lot of money in lost transit tolls as well. And shipping was in a less-than-ideal state to begin with, due to the Panama canal drought and issues with shipbuilding.

Insurance rates were already keeping most higher value cargo out, it's currently mostly bulk goods, crude oil, and some refined petroleum products still transiting; that's why we never hear about container ships being hit, they were generally the first to leave.

This attack will further increase insurance rates and further increase pressure on the west to "do something" but other than a ceasefire they don't have a lot of good options.