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

London-listed shipbroker Braemar has painted a mixed picture for tankers if the Gaza ceasefire holds and the Houthis stop attacking non-Israeli ships in the Red Sea. A full return to Suez Canal routing will negatively impact tonne-mile demand for tankers, head of research Henry Curra calculated.

Hapag-Lloyd reiterated it will return to the Red Sea "when it is sufficiently safe to do so," while Maersk said it was too early to speculate.

Red Sea shipping remains risky despite the Gaza ceasefire and an announcement by Yemen’s Houthis to limit attacks, according to the CEO of Abu Dhabi National Oil Company's logistics and shipping arm.

The Houthis said over the weekend they would stop attacking transiting vessels as long as the cease-fire holds. But big-box ship operators said it would take some time before secu

Yemen’s Iran-backed Houthi movement has released the crew of a cargo ship more than a year after its fighters hijacked the vessel in the Red Sea, as part of its campaign of attacks in support of Hamas in its war against Israel.

Yemen's Houthi rebels have released the crew of the Galaxy Leader, a vehicle carrier seized in November 2023 at the start of their attacks on shipping in the Red Sea corridor over the Israel-Hamas war.