European storage entered autumn above the five-year average. That is a cushion, not a hedge — a cold winter and a supply interruption together would still drain it by February.

The F-105 was designed to run a single tactical nuke to a Soviet target at low level. Instead it flew three-quarters of the strike missions against North Vietnam — and lost nearly half its production run doing it.

TD3C has firmed without a matching move in cargo volumes. Owners are pricing the risk of waiting empty inside the Gulf — the ballast leg — rather than the laden transit out.

The 21-nautical-mile gap between Iran and the Musandam peninsula through which roughly a fifth of the world's traded oil and LNG passes. The single most consequential chokepoint for the energy and freight desks.

When container lines stopped transiting Bab el-Mandeb, they did not lose ships — they lost weeks. The maths of a 10-to-14-day detour explains almost everything that followed in rates, schedules and port congestion.

Single-seat supersonic strike fighter; the USAF's primary conventional bomber over North Vietnam and the origin of the Wild Weasel SEAD mission.

Strategic sealift is not a navy. It is a car carrier under charter, a ferry with a strengthened deck, an LNG tanker whose route is a matter of state. Reading the merchant fleet as a military asset is the habit this journal exists to teach.

The ro-ro that moves the world's cars is also the ro-ro that would move an armoured brigade. A vessel class whose civilian and military readings are almost the same ship.