Shipping Alert! Iranian-backed Missile Sets Cargo Ship Ablaze in Red Sea

Yemen’s Iranian-backed Houthi rebels continue to attack ships in the Red Sea. They hit the Liberian-flagged cargo ship Al Jasrah today, which set the ship on fire, as reported by Jon Gambrell in a Times of Israel article. I highly recommend reading the article for more details, as this is just a quick news flash for shippers.

Shippers’ goods trying to pass through the Suez Canal, not to mention the lives of the crews manning the ships, are in danger. Simultaneously, cargo is being delayed at the Panama Canal because of a drought in the area. For more on the shipping uncertainty created between risks at both canals, check out our post on it from last week.