The global economic system is built on trade, and to trade, you need ships and safe, efficient routes. Often, that mean travelling through maritime choke points, where geography squeezes trade through a concentrated point. In the Red Sea, one of those chokepoints has come under pressure as a result of attacks by the Houthi movement based in Yemen, driving hundreds of vessels to divert to much longer routes around Africa. Now, US and Houthi forces have exchanged fire, with several Houthi boats reportedly being destroyed attempting to board a container ship. And beyond the risk of this particular campaign, the sight of relatively cheap attacks reshaping the contours of global trade may serve as a warning to decision makers elsewhere. After all, if technology and techniques can be applied in the Red Sea, why not at other maritime chokepoints around the world? On that cheery note, welcome to 2024.