Containership Companies Say...Not So Fast...In Returning to the Red Sea, Suez Canal & Bab el-Mandeb

Learned this listening to Sal. Houthis supplied with Iranian GPS controlled drones and missiles along with Iranian Revolutionary Guard training, trained the Houthis guerrillas to operate these GPS meter accurate weapons of destruction, and are now such a nuisance to commercial shipping plying the Red Sea that insurance costs to use the Suez Canal have skyrocketed. Couple that with shipping costs taking the long route around the Cape of Africa jacking up shipping costs but also profits, combined is a double whammy to Egypt’s economy hoping for a return of world wide shipping through the Suez Canal they militarily took an Nationalized in 1956 by Egyptian President Gamal Abdel Nasser who announced on my bday the nationalization of the Suez Canal. On July 26, 1956, Egyptian President Gamal Abdel Nasser announced the nationalization of the Suez Canal Company, the joint British-French enterprise which had owned and operated the Suez Canal since its construction in 1869. Curiously Egyptian President Gamal Abdel Nasser became the new leader of Egypt on June 23, 1956 or only one month and 3 days before Nationalizing the Suez Canal. I call that a triple whammy, one Houthi guerrillas nuisance a proxy of Iran, bigger profits for shipping conglomerates going around the Cape and the third whammy is let’s not forget who built the Suez Canal, the West not Egypt. Ok not all facts from this video came from Sal’s vid today. Great video Sal. I love your in-depth worldwide stats on all things commercial shipping. GPS/GNSS satellites make all this expansion of worldwide commercial shipping possible since 2000 but so does it help guerrillas to use inexpensive drones and missiles with near pinpoint accuracy to be nuisances sinking very expensive cargoes.

Jim Carlson