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.

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.

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,

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.