Gaza truce leads to temporary halt in Houthi Red Sea attacks

The Yemen-based Houthis have signalled a temporary halt in their months-long campaign of attacks on commercial ships in the Red Sea following a ceasefire agreement between Israel and Hamas.

In his first public statement since the Gaza truce was announced on January 15, Houthi leader Abdulmalik Al-Houthi indicated the group would adhere to the agreement, which could lead to a pause in their targeting of vessels and Israeli interests, Caliber.Az reports referring to Western media.

However, he kept the possibility open for resuming attacks, warning that any breach, massacre, or siege by Israel would prompt immediate military support for Palestinians.

“We will continue to follow the stages of implementing the agreement,” Al-Houthi said in his speech on January 16. “Any Israeli breach, massacre, or siege — we will be immediately ready to provide military support to Palestinians.” While he did not specify whether he was referring to attacks on Israel or ships, his remarks suggested the potential for a resumption of hostilities.

The announcement has raised hopes for some relief in the southern Red Sea and Gulf of Aden, where shipping companies and insurers have been on high alert due to months of missile and drone strikes by the Houthis. These attacks have resulted in significant damage, including sinking ships, and have forced many shipping companies to avoid the critical trade route entirely. Additionally, both the Houthis and Israel have been engaged in direct confrontations.

The ceasefire agreement, which is supported by the US, is expected to take effect on Sunday, January 19, contingent on approval from Israel’s security cabinet on Friday.

The Houthis, an Islamist group designated as a terrorist organization by the US and backed by Iran, began their attacks in late 2023 in solidarity with Palestinians amid the Israel-Hamas conflict. They vowed to continue their campaign until the fighting ended.

Due to the dangers posed by the Houthi attacks, many Western-linked container ships have opted for an alternative route around southern Africa, significantly lengthening their journey between Asia and Europe. This has resulted in shipping capacity shortages, driving up freight rates and benefiting carriers such as Mitsui OSK. Furthermore, shipping giants A.P. Moller Maersk A/S and Hapag-Lloyd AG formed a partnership last year to share vessels on the longer route.

The disruptions have had a noticeable impact on Egypt’s revenue from the Suez Canal, with a reported drop of at least $7 billion, or around 60%, last year.

By Tamilla Hasanova