The world’s major shipping companies say they won’t be sending vessels back to the Red Sea any time soon despite a pledge by Iran-backed Houthi militants in Yemen not to attack them as long as the ceasefire in Gaza holds.

French shipping and logistics company CMA CGM said in a statement on January 25 that the improved stability was “a positive but fragile sign” for the industry, and that it would continue to prioritise alternative routes.

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