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 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.
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.
French shipping and logistics group CMA CGM will continue to avoid the Red Sea even though it considers the region is more stable following the ceasefire agreement between Israel and Hamas, it said on Saturday.
In the last 14 months, the Houthis, using shore-to-ship missiles procured from Iran, have targeted about 200 vessels in the Red Sea
CMA CGM, the French container line that has continued to transit the Red Sea despite attacks on shipping, said it will continue to route most of its affected services away from the region.
Despite recently touting a Suez route, Mediterranean Shipping Company (MSC) said it will stick to Cape of Good Hope until further notice.
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.
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.
French container line CMA CGM has joined Maersk in opting to keep rerouting vessels around the Cape of Good Hope.
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.
The world’s top three container operators said they fear instability in Gaza and broader regional tensions mean continued danger.