Iran and Israel traded fire raising concern that the Middle East shipping crisis could escalate. Iran hijacked an Israeli-owned 15,000 teu containership, the MSC Aries, on April 13. Houthis, meanwhile, continued their attacks on merchant shipping, pushing further and further away from their shores in Yemen.

The Panama Canal Authority (ACP) claimed that the tide has turned in its ongoing battle to get back to normal operations, following a debilitating year of drought-induced cuts...