Following the ceasefire agreement between Israel and Hamas, Yemen's Houthi rebels have also declared a truce in the Red Sea. The Houthis, who receive support from Iran, have announced an end to their attacks in this strategically significant trade route.

Yemen's Houthi rebels on Monday (20 January) announced a major shift in their operations in the Red Sea corridor, signalling that they will cease targeting non-Israeli ships following the fragile ceasefire resolution in the Gaza Strip.

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 Yemeni Houthi group said Wednesday it launched an attack targeting the US aircraft carrier USS Harry S. Truman and accompanying warships in the northern Red Sea. In a televised statement, military spokesman Yahya Saree said the attack involved several cruise missiles and drones, saying the attack successfully hit its targets.

Operations at a Red Sea port in Yemen used for aid imports have fallen to about a quarter of its capacity, a UN official said on Tuesday, adding it was not certain that a Gaza ceasefire would end attacks between the Iran-backed Houthis and Israel.

Yemen's Houthis have indicated they will restrict their Red Sea attacks to vessels linked with Israel amid a ceasefire 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