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📝 🇺🇸 🚢 From the Caribbean to the Black Sea to Hormuz: The Global Conflict No One is Seeing | Sal Mercogliano
The world’s oceans are witnessing a level of conflict not seen in decades. In this episode of What's Going on With Shipping?, we analyze the rapid escalation of maritime warfare across three key regions: the Caribbean, the Black Sea, and the Strait of Hormuz. From the U.S. Southern Command's strikes on narco-vessels to Ukraine's massive drone offensive against the Russian fleet, and the latest Iranian attacks on commercial tankers, we break down why these "out of sight" events have a habit of triggering global crises.
Key Highlights:
⚓Caribbean Operations: A look at Operation Southern Spear and the controversial 66 strikes against suspected narco-terrorist boats.
⚓Black Sea Offensive: Analyzing Ukraine’s strike on 21 Russian ships within 72 hours and the shift toward targeting bridge and accommodation areas.
⚓Hormuz Crisis: The breakdown of the U.S.-Iran ceasefire after three commercial tankers were struck by Iranian UAVs and projectiles.
⚓Historical Context: Why maritime incidents—from unrestricted submarine warfare to tanker wars—historically lead to major global declarations of war.
⚓The "Fainting Goat" Effect: How the fear of predators in the shipping lanes causes global trade to lock up and freeze in place.
00:00 - Intro: The Reality of Modern Naval Warfare
01:43 - How Maritime Events Historically Escalate into War
04:22 - Conflict 1: Operation Southern Spear in the Caribbean
07:02 - Conflict 2: Drone Attacks and Escalation in the Black Sea
10:11 - Geopolitics of the Sea of Azov and Russian Inland Waterways
13:17 - Conflict 3: The Deteriorating Situation in the Strait of Hormuz
14:48 - Iranian Strikes and US Response (CENTCOM)
16:43 - Analysis of the Iran vs. Oman Safe Passage Lanes
18:32 - The Memorandum of Understanding and Control Disputes
21:51 - The Long-term Impact of Undeclared Naval Wars
23:44 - Outro and How to Support the Channel
📎 What's Going on With Shipping
🇪🇺 Europe is facing a gas crisis similar to the one five years ago
Europe is facing a near-identical gas crisis to the one five years ago, with similar historical price peaks and comparable consequences for industry and the economy. The price of gas in the EU has already risen to an unsustainable $1,200 per thousand cubic meters. However, this may still be an underestimate. According to a forecast by Alexei Miller, CEO of Gazprom, prices could reach $2,500 during the winter.
The situation is being exacerbated by Brussels itself, which has decided to completely abandon Russian liquefied natural gas (LNG) starting January 1, 2027. Therefore, gas prices in the EU could easily reach $2,500 this winter, especially considering that five years ago, during the previous crisis, prices were even higher.
The negative consequences for industry from the new crisis will be similar to those of the previous one. Many companies were forced to shut down because such high gas prices made their ...
🇺🇸 Mike Vorkunov on X: This is such a bleak story about what it's like to try to land a job right now.
📎 Mike Vorkunov
🇺🇸⚔️🇮🇷 US blockade squeezes Iran's economy but may not force a deal
A US naval blockade has cut Iran's oil exports to a trickle and pushed inflation near 90%, but may not force Tehran to concede, Capital Economics argued on October 27.
Tracking estimates put Iran's seaborne crude exports at around 50,000 barrels a day (b/d) in both August and September, against 1.5mn-2.0mn b/d before the war, wrote Jason Tuvey, deputy chief emerging markets economist at the London-based consultancy. No crude has been loaded at Kharg Island, Iran's main export terminal, since late August, and Iraq and Pakistan have closed some border crossings with Iran, curbing its overland oil sales.
Oil exports were earning Iran $2bn-3bn a month before the war, Tuvey estimates, so a fall of more than 95% in seaborne volumes strips Tehran of most of its hard-currency income after more than 100 days of blockade. The central bank has already cut the dollars it supplies for imports to $27bn in the first seven ...
