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

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.

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

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.

Israel and Hamas announced a ceasefire on Wednesday, leading to speculation that the Yemen-based Houthis — who began attacking commercial ships in late 2023 ostensibly in retaliation for Israel’s attacks on the Gaza Strip — might call off the broadsides for good.

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.

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.

The second reason is politics. The Houthis have made it clear that any re-opening of the route is contingent on the modalities and progress of the ceasefire between Israel and Hamas, the implementation of which began on Sunday. “There are still many ifs and buts to the situation,” the executive said.

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.