Ryan Petersen

So that actually the big impact here is it was about to get a lot better.

Like supply chains were about to sort of normalize.

And now we've gone back to going around the tip of Africa.

So that's going to add right now it's increased the price of ocean freight about 50%.

And so and that's a much longer transit time going around.

I think it obviously depends very much on what you're trying to do.

Like, if you're trying to ship to the Middle East, it's a disaster.

I mean, you can't get into the Persian Gulf.

There's no container ships going through.

Like, I think oil and gas, I think we're seeing about three ships went out yesterday.

Normally, it's over 100.

So it's a huge reduction in that supply chain.

If you're on a global basis, like the ocean freight story here is a pretty small scale.

If COVID was an 8 out of 10...

And the Red Sea disruption has been like a 6 out of 10.

This container shipping story of the Strait of Hormuz is only like a 3.

It's because – yes, I'm not saying it's only a 3 for the global economy.

I just mean for container shipping specifically.

For the global economy, this is probably the worst thing in our lifetime if they can't get it resolved soon.

Yeah.