Coffee and a Mike Sal Mercogliano host of "What's Going on With Shipping?" on YouTube #1338
Mar 20, 2026
Sal Mercogliano, associate professor and maritime historian who runs the YouTube channel 'What's Going on With Shipping', discusses the Strait of Hormuz crisis. He covers ships and crews trapped at sea, insurance freeze and US backstop, drone and unmanned-boat attacks, and how supply chains and global trade could be reshaped by weeks or months of disruption.
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Preposition Government Insurance To Stop A Freeze
- Prepare government insurance backstops immediately to prevent a liquidity freeze in mutual insurance pools and keep ships moving.
- Sal argues a $20B backstop should've been ready day one to bridge renegotiations and reassure operators.
Iran's Toll Booth Routes Through Its Waters
- Iran effectively set up a 'toll booth' by routing select ships through its territorial waters between islands and granting clearance.
- Open-source AIS and visible transits show Chinese and partner ships using that route, implying payments or agreements.
Keep Shipping Moving With Escorts And Early Coordination
- Do not allow shipping traffic to stop; keep escorts or allied coordination ready to maintain flow because restart inertia is costly.
- Sal argues for early coordination with major lines and allies to provide escorts and minimize damage, rather than sequential military-only operations.