Bab Al-Mandeb Becomes The New Global Shipping Nightmare, Houthis Declare Naval Blockade | WION

[00:00:00]The Red Sea is flashing red again after Hormus. The next pressure point is Babul Mandv. The narrow gate that can jam global trade in a heartbeat. And now the Houthis are threatening shipping even there. And Saudi Arabia is also warning of the possibility of hostilities breaking out. Now the world's supply lines are back in the firing line. And our next story explains what it means for global energy markets and how this could actually impact your pockets. Take a look.

[00:00:46]It begins with a warning shot. Then the market panic follows. One choke point is already strained. Now another could be dragged into the storm.

[00:00:58]Bab al-Mandave, the narrow straight between Yemen and the Horn of Africa is no side note. It is a gate through which oil, cargo and war risk all pass at speed.

[00:01:12]The threat is simple and brutal. If the Houthis move to choke this route, the consequences could spread far beyond the Red Sea.

[00:01:20]Ships would be forced to divert. Transit times would jump. Insurance costs would soar. Oil prices could spike massively.

[00:01:30]After squeezing Hormuz, Iran's Houthi allies have turned to the Red Sea Gateway as a new pressure point. As seen in this map, Houthi forces have declared a strict maritime embargo against Saudi Arabia at the Bab al-Mandab Strait that handles roughly 4 to 7.4 million barrels of oil and petroleum products per day.

[00:01:52]This amount equals about 5 to 7% of total global oil trade.

[00:02:03]>> These are the images of Houthi supporters rally in Sana after armed forces announced the navigation ban on Saudi Arabia.

[00:02:14]Yemen is moving forward with a continued comprehensive escalation. First through the naval and air blockade across all parts of the Kingdom of Saudi Arabia.

[00:02:23]Major foreign companies including American, British, and other companies investing billions of dollars will be targeted.

[00:02:33]Saudi Arabia and the Houthis traded fire last week for the first time in [music] years, threatening a 2022 truce that has held despite [music] expiring.

[00:02:43]The exchange of strikes was set off when an Iranian plane attempted to land in Sana, challenging Saudi [music] Arabia's hedgemony over Yemen skies. Houthis also warn of inflicting harm of Saudi oil facilities.

[00:02:58]The kingdom [music] produces over 10 million barrels of crude per day for energy imports.

[00:03:07]>> We say to the Saudi aggression that if you fire at any aircraft that comes to Yemen or if you fire at Yemen, then we will target your petroleum facilities and we will target your airports and we will target your families.

[00:03:22]Analysts say the danger is not just another clash at sea. It is the prospect of two critical maritime arteries being hit at once with hormos already disrupted and Bab al-Mandm now under pressure. For shippers, the nightmare is clear.

[00:03:40]One blocked route can be absorbed. Two choke points at the same time could remake trade flows, drag freight rates higher and deepen the shock across energy markets. Babal Mandave is not just geography. It is a pressure [music] valve and right now it is hissing.

[00:04:00]Bureau report is one.

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