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.

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.

The leader of Yemen's Houthis said on Thursday that the Iran-aligned group would monitor the implementation of a ceasefire deal between Israel and Hamas aimed at ending the war in Gaza and continue its attacks on vessels or Israel if it is breached.

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

Maritime security officials said on Thursday they were expecting Yemen's Houthi militia to announce a halt in attacks on ships in the Red Sea, after a ceasefire deal in the war in Gaza between Israel and the militant group Hamas.