In my books, I highlighted how even a minor, seemingly insignificant event could cripple global maritime shipping. Well, not only did one of those events just happen, three did. We’re talking about a Russian cargo ship sinking, Israel targeting the Houthis in Yemen, and Finland impounding a Russian ship.
A Russian cargo ship went down in the Mediterranean and some foul play could be involved. This ship was critical for Russia’s nuclear icebreaker fleet, as it carried equipment necessary for construction. This will delay (or even cancel) these construction timelines, which marks a significant blow to Russia’s merchant marine capabilities.
Israel expanded its operations against the Iranian-backed Houthis, with efforts to disrupt supply chains. This could even spill over into targeting ships transporting Iranian weapons.
Finland’s seizure of a Russian ship accused of severing subsea cables escalates tensions in the region. This ship was already under scrutiny for its unsafe condition, but its suspected involvement in sabotage activities was the final straw.
Global maritime shipping relies upon trust, insurance and the US securing the sea lanes. These three events that have unfolded in the past weeks are causing the pillars propping up maritime shipping to teeter. It’s only a matter of time before maritime shipping, and globalization along with it, come falling down.
