- Houthis will cease targeting non-Israeli ships, provided the Gaza ceasefire is upheld.
- Red Sea shipping routes remain avoided due to high risks and increased war insurance costs.
- Hostages from seized vessels face dire conditions in Yemen.
Recent Houthi attacks on commercial shipping in the Red Sea have caused widespread disruption, with many vessels avoiding the region. The Iran-backed Houthis have pledged to stop targeting non-Israeli ships if the Gaza ceasefire holds, but uncertainty continues to impact global shipping, reports Reuters.
Houthis Limit Attacks to Israeli-Linked Vessels
The Houthi-led HOCC stated that attacks on commercial vessels will cease except for those linked to Israel, contingent on the full implementation of the Gaza ceasefire.
They emphasized that sanctions against U.S., British, or Israeli-linked ships will resume if Yemen faces aggression from these nations.
Global Shipping Industry Cautious Amid Uncertainty
Major shipping companies and insurers remain hesitant to resume operations through the Red Sea.
Higher war risk insurance premiums and safety concerns continue to deter operators. “We will return to the Red Sea when it is safe,” said a Hapag-Lloyd spokesperson.
Impact of Houthi Attacks
Since November 2023, over 100 attacks have been carried out, including the seizure of the Galaxy Leader.
Hostages aboard the vessel face deteriorating physical and mental health, with some suffering from malaria.
The Red Sea remains a high-risk zone, particularly near the Bab al-Mandab chokepoint.
Steps Toward Red Sea Trade Resumption
Shipping executives suggest a gradual resumption of trade if the ceasefire holds and the U.S. refrains from using force.
Test voyages will determine if war risk premiums are reduced, making operations viable again.
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Source: Reuters
