Rubymar Sinking Raises Questions on Iran's Proposed Shipping Test

Jim Bianco, president of Bianco Research posted on X, discusses the Rubymar sinking in March 2024 in Bab el-Mandeb after Houthis targeted U.S., U.K., and Israeli-linked ships. The Rubymar, a Belize-flagged ship with Marshall Islands ownership and Lebanese management, was bound for Bulgaria with fertilizer cargo. Its insurance and Saudi commercial links remain unclear. Iran's proposed test raises questions on defining U.S., Israeli, or allied ships, considering flags, ownership, management, insurance, commercial links, and cargo origin or destination. Russian, Iranian, and Chinese ships may pass the test easily, but global shipping often has U.S., U.K., or Israeli connections, affecting risk perception.