Yemen’s Houthi rebels and the Yemen branch of the Palestinian group Hamas on Wednesday linked the release of the crew of the Galaxy Leader vessel to the ceasefire agreement that took effect in Gaza on Sunday.

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.

The Houthis have warned they will resume attacks on international commercial shipping if Israel reneges on Gaza truce.

The move by the Iranian-backed Houthis marks their latest effort to de-escalate their attacks following a ceasefire in Gaza.

Yemen's Houthis will limit their attacks on commercial vessels to Israel-linked ships provided the Gaza ceasefire is fully implemented, the Humanitarian Operations Coordination Center (HOOC) said. The Sanaa-bsed HOCC,

Houthi militia leader will monitor the implementation of the Gaza ceasefire agreement between Israel and Palestine aimed at ending the war in Gaza.

Analysis by S&P suggested that the “ceasefire is very likely to collapse beyond its initial phase” as it assessed that the Israeli Defense Force (IDF) would be unlikely to withdraw from Gaza entirely and restrictions to access to the territory would not be fully lifted.

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