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.

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 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.

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.

Maritime security officials said on Thursday they were expecting Yemen's Houthi militia to announce a halt in attacks on ships in the Red Sea, after a ceasefire deal in the war in Gaza between Israel and the militant group Hamas.

Yemen's Houthi rebels said Wednesday they 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.

Operations at a Red Sea port in Yemen used for aid imports have fallen to about a quarter of its capacity, a UN official said on Tuesday, adding it was not certain that a Gaza ceasefire would end attacks between the Iran-backed Houthis and Israel.

Yemen's Houthis have indicated they will restrict their Red Sea attacks to vessels linked with Israel amid a ceasefire in Gaza.

Despite recently touting a Suez route, Mediterranean Shipping Company (MSC) said it will stick to Cape of Good Hope until further notice.

The Houthis said they will stop attacking US and UK vessels in the Red Sea area in response to the Israel-Hamas ceasefire agreement after a year-plus campaign that’s upended global trade.