Houthis Say Over 400 Merchant Ships Crossed Bab el-Mandeb in 11 Days

The Houthis are effectively positioning themselves as the authority certifying Red Sea transit, which carries as much political weight as the traffic figures themselves. The exemption carved out for Saudi vessels is the notable detail: it signals that the movement's targeting logic remains selective rather than indiscriminate, and that Riyadh's shipping continues to carry a distinct risk premium. Whether that distinction holds — and whether insurers and charterers treat a Houthi-issued clearance as meaningful — is the open question.