Pirate Wires
We’re On The Brink of A Global Shipping Crisis | Pirate Wires Podcast #29 🏴☠️
Jan 10, 2024
Ryan Petersen, CEO of Flexport, discusses the global shipping crisis caused by attacks on cargo ships in the Red Sea, leading to shipping delays and price increases. They explore the motivations behind the attacks and the potential for regional war. The episode also touches on the role of private shipping businesses, the Panama Canal, and the impact of closing trade routes.
37:52
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Quick takeaways
- Yemen's Houthi rebels attacking ships disrupt global trade, resulting in rerouting of vessels and significant price increases.
- The reliance on specific chokepoints like the Suez and Panama Canals exposes vulnerabilities in the global supply chain, prompting the need for countries to reassess their shipping routes.
Deep dives
Global Task Force to Stop Yemen's Houthi Rebels
Defense Secretary Lloyd Austin announced a global task force to stop Yemen's Houthi rebels from attacking ships. The rebels, who have a well-funded military, have been launching attacks on commercial shipping, jeopardizing passage through the Suez Canal and disrupting global trade.
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