As owners reroute ships from the Suez Canal and Red Sea, analysts are scrambling to assess what it could all mean.
Houthi attacks on vessels launched from Yemen and arising from the Israel-Gaza war are redrawing the shipping map yet again.
About 10% of global trade goes through Suez, but major container lines such as AP Moller-Maersk and CMA CGM are halting sailings or diverting ships, while Belgian tanker owner Euronav is not sending vessels through the region.