Houthi forces completed their takeover of Yemen’s Red Sea coastline and Perim Island in September 2026, positioning them to deter or disrupt transits through the Bab el-Mandeb without a formal declaration of closure. Recent developments include renewed Houthi missile and drone launches toward Saudi targets in early November, met with Saudi intercepts and reported coalition airstrikes, alongside a suspicious explosion in the strait on November 6. Shipping volumes have rebounded modestly in October, led by containerships reaching roughly two-thirds of pre-crisis levels, yet overall tonnage remains about 46 percent below 2023 benchmarks amid elevated ISPS Security Level 3 and persistent rerouting incentives. No authority has declared the waterway closed, and daily transits continue at reduced but steady rates. Scheduled diplomatic or military responses to the latest exchanges could influence near-term risk assessments for the chokepoint.