Red Sea is now largely closed to traffic. That’s 8.8 million bpd of daily oil transit, and nearly 380 million tons of daily cargo transit. Global traffic now will be rerouted around Cape of Good Hope, adding 40% to voyage distance (and even more to cost)
BP, Evergreen, Euronav Halt Sailings Through Chaotic Red Sea As Insurers Demand ‘War Risk Coverage’
Suez update: 46 container ships now have diverted around the Cape of Good Hope rather than transiting the Red Sea.
John Konrad is a “former drillship captain, author of Fire On The Horizon“.
I’m a merchant ship Captain who runs a large news company for commercial shipping.
Five years ago I had zero interest in Naval or military affairs but this guy @mercoglianos just kept calling me telling me shipping is in BIG trouble if the US Navy keeps ignoring the concerns of the security shipping industry.
I’ll be completely honest, I ignored him for years. We had the strongest Navy on earth, and nobody was close. How could this be that big of a concern?
I wasn’t completely oblivious. I’ve listened to @cdrsalamander’s podcast every week for over a decade. He gave similar warnings.
I even wrote early articles about China’s islands building campaigns and the US Merchant Marines’s aging sealift fleet. But those were mostly isolated concerns.
But Sal did not stop calling. Slowly I started putting in a heavy amount of work into naval and military research… and unfortunately I found that Sal was .
Something to keep an eye on.