French shipping and logistics group CMA CGM will continue to avoid the Red Sea even though it considers the region is more stable following the ceasefire agreement between Israel and Hamas, it said on Saturday.

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

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 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.

Mandeb strait decreased by 50% after the Yemeni rebels launched maritime attacks, according to the US Energy Information Administration.

Red Sea shipping remains risky despite the Gaza ceasefire and an announcement by Yemen’s Houthis to limit attacks, according to the CEO of Abu Dhabi National Oil Company's logistics and shipping arm.

The move by the Iranian-backed Houthis marks their latest effort to de-escalate their attacks following a ceasefire in Gaza.

The Yemen-based Houthis signaled a pause in their months-long attacks on commercial ships following a ceasefire deal between Israel and Hamas.

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.