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

The Yemeni rebel group says it will stop targeting vessels that transit the Red Sea.

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 Iranian-backed rebel group in Yemen had earlier said they would scale back attacks given the cease-fire in the conflict in Gaza.

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.

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.