The Houthis have seized key coastal areas along the Red Sea—including the port of Mocha and Perim Island—tightening their grip on the Bab el-Mandeb Strait. In this episode, maritime historian Sal Mercogliano breaks down what this critical development means for global shipping, oil flows, tanker rates, and supply chain security across the Middle East. Key Topics Covered: ⚓️The Seizure of Mocha & Perim Island: How Houthi forces advanced to the strategic choke point and what physical control of the Bab el-Mandeb means for transit visibility and strike capabilities. ⚓️Impact on Saudi Energy Exports: The drone strike damage to the Saudi East-West Pipeline, rerouting crude to Yanbu, and why VLCCs are shifting back to convoy transits. ⚓️Escalating Tanker Charter Rates: Analyzing Baltic Exchange data and why VLCC rates on key routes are soaring past $1 million/day amid rising war risk insurance. ⚓️Supply Chain Disruptions & Choke Points: Traffic shifts across the Suez Canal, the Cape of Good Hope, and the Strait of Hormuz, alongside rising piracy off Somalia. ⚓️Global Economic Fallout: Bunkering shortages, port congestion fears, seafarer safety bans, and the joint warnings issued by international maritime coalitions. Timestamps: 00:00 – Introduction & The BAM Tradition 🍻 01:17 – Houthi Advance on Mocha & Perim Island 04:45 – Chart Breakdown: The Choke Point at Bab el-Mandeb 09:01 – Regional Security Reports & Piracy Uptick 12:30 – Choke Point Traffic Trends: Suez, BAM & Cape of Good Hope 13:34 – Saudi East-West Pipeline Damage & Yanbu Exports 18:23 – Skyrocketing Tanker Charter Rates (Baltic & Clarksons) 21:36 – Knock-on Effects: Bunkering, Suez Congestion & Global Warnings 26:44 – Final Analysis & Strategic Outlook 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 Marine Traffic www.marinetraffic.com Houthi Seizure of Mocha Opens