Shipping companies expressed caution about using the shorter route between Asia and Europe that many ships have avoided for more than a year.

The Yemeni rebel group says it will stop targeting vessels that transit the Red Sea.

Houthi, said the Iran-aligned group will monitor the implementation of a ceasefire deal between Israel and Hamas and will continue its attacks on ships in the Red Sea if it is breached.

Yemen’s Houthi rebels have signaled they will limit their attacks in the Red Sea corridor to only Israeli-affiliated ships as a ceasefire in the Gaza Strip takes hold.