The What is Going on With Shipping? channel posted on YouTube on 14 June 2024 a 21-minute video titled "Whose Prosperity Are We Guarding?"
Houthi missile and drone attacks from Yemen aimed at international shipping in the Red Sea and Gulf of Aden have driven up the cost of war risk insurance even if they have had minimal success in actually hitting ships. They have also caused a significant reduction in the passage of ships through the Suez Canal and Red Sea. At the same time, the number of American and European navy vessels protecting shipping through the Red Sea is down.
Most of the ships still navigating these waters are associated with China, Russia, Iran, and Global South countries. This raises the question as to who should be providing the protection and the most effective way to do it. The author of the video suggests it is time to institute convoy operations for those ships passing through the Red Sea whose owners are willing to pay a fee for the service. At the moment, Western navies are providing protection for very few ships that have any connection with Western countries.
