10
Feb
The Red Sea ceasefire may not be exactly what it appears. It seems the Houthis have turned to what feels like maritime extortion. They’re now offering a “safe passage fee” for ships using a negotiation system that includes a customer service email. And presumably, if the fee isn’t paid, further demands for payment are made. Even with the ceasefire in place, insurance premiums remain high, and carriers continue rerouting vessels to avoid the region as security concerns persist. The promise...