A pile up is starting to form in the Red Sea and the gulf of Aden of ships wanting to pass through the Bab-el-Mandeb (Gate of Lamentation/Tears) but not allowed to by their owning/operating companies. 
The list of companies refusing to allow their ships to pass the strait without naval escort and protection is growing as two more ships were attacked by the Houthis earlier today. "War Risk" premiums to maritime insurance policies for transiting the Red Sea have spiked in price to 0.5%-0.7% of the value of the ship and cargo from 0.07% in early December.
This could translate into tens of thousands of dollars for a seven day transit through the war area. At the height of the Iran/Iraq tanker war premiums reached 5% of the value of the ship and cargo for the transit in and out of the Persian Gulf.
The Joint War Committee of London Maritime Insurers also widened the area of the Red Sea where the premiums apply from 15 to 18 degrees North.
This means that freight rates will be going up and there will be delays in product arrival for ships that divert around the Cape of Good Hope.
The big news is that the oil companies are joining in and not allowing their product to transit the strait. The major oil companies don't operate very many tankers any more. They have contracted that out. They still control how it is shipped. The following oil/oil shipping companies have paused shipments through the Red Sea: BP, CMA CGM, Equinor, Euronav, & Frontline. The following container companies have done likewise: Evergreen, Hapag-Lloyd, Maersk, MSC, OOCL, & Yang Ming Marine Transport.
This represents A LOT of marine transport to and from Europe and the east coast of the US. These shippers are pressing for naval intervention to protect shipping transiting the Red Sea. The problem is that these ships are not flagged with and not paying taxes to the governments that they want to protect them. Shipping companies are already facing an excess of capacity with the prospect of sagging profits in 2024 even without this headache.
More as it develops.
WWG1WGA
Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)