PRC shipping are mostly unaffected by Houthis, they get to go through cheaper red sea route on lower insurance rates (at least in Feb) which they get to charge

PRC shipping are mostly unaffected by Houthis, they get to go through cheaper red sea route on lower insurance rates (at least in Feb) which they get to charge more because they have dibs on faster routes. They're triple dipping. So far global exports doing fine, costs largely gets passed onto consumers. Bonus watching global police USN fail to contain Houthis while gathering intel on US interception and sipping on cheap RU/IR energy for producer competitive advantage. It makes sense for PRC not to do anything, not that they could. Best they can do is mind their own business and arbitrage situation to their advantage, which appears to be net positive currently. E: Extra bonus: there seems to be assumption of prolonged disruption = global shipping needs to make up for distance with more hulls = record more orders of new ships from ship yards, of which PRC has ~50% marketshare.