The Peter Zeihan Podcast Series

The Houthis Are Still Attacking Ships in the Red Sea || Peter Zeihan

Aug 28, 2024

Peter Zeihan, a keen observer of geopolitical and economic dynamics, dives into the recent Houthi attacks on shipping in the Red Sea. He discusses a failed attempt on an oil tanker, revealing the ineffectiveness of Houthi strategies and the environmental risks at play. The conversation shifts to the changing maritime insurance landscape, exacerbated by the Ukraine war, and how nations are adjusting to rising costs with new insurance solutions. Zeihan paints a vivid picture of the geopolitical complexities in this volatile region.

05:26

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Peter Zeihan

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Quick takeaways

The recent Houthi attacks in the Red Sea underscore escalating maritime threats, emphasizing the dangers faced by commercial shipping in the area.

Increased hostility has led to soaring maritime insurance costs, significantly impacting global shipping logistics and consumer prices across various sectors.

Deep dives

The Houthi Threat on Maritime Shipping

Recent attacks by the Houthi militant group in Yemen have escalated concerns for maritime safety in the Red Sea. The group has been targeting commercial vessels, claiming that their aggressive actions expand from those associated with Israel to any ships that refuse to pay protection money. Notably, the Greek-flagged tanker Soyunyan, carrying a million barrels of crude oil, was struck, resulting in it being left abandoned and disabled. Despite the Houthis' efforts to create an environmental disaster by setting the ship ablaze, they failed to breach its hull or cause an oil spill, illustrating both their incompetence and the ongoing dangers of operating in the region.

Houthi Attacks and Geopolitical Implications in the Red Sea

4min

Navigating Risks: The Impact of Geopolitics on Maritime Insurance

3min

The Houthis attacked an oil tanker that had been previously abandoned in the Red Sea. They denotated charges, but only managed to start some fires (as of now). This lackluster attack isn't the scariest thing, but it does highlight the growing dangers of commercial shipping in the region.

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