The Belize-flagged ship Rubymar, attacked by Yemen's Houthi rebels, has sunk in the Red Sea after taking on water. The sinking could impact global shipping and aid shipments to the region.
Key Points
The Rubymar was attacked by Houthi rebels and sank in the Red Sea after taking on water
The sinking could lead to detours, higher insurance rates, and impact global inflation and aid shipments
The Houthis have been targeting ships in the region over the Israel-Hamas conflict
Pros
Provides context for current developments in the Middle East
Cons
The sinking of the Rubymar could impact global shipping and aid shipments