Red Sea Shipping Traffic Remains Subdued Amid Fragile Ceasefire

Vessel transits through the Red Sea and the Bab el-Mandeb Strait have remained relatively stable at subdued levels since the Iran-backed Houthis said they would limit attacks on commercial vessels. Following the Israel-Gaza ceasefire last month, the Iran-aligned Houthis said they would limit attacks in the Red Sea to vessels linked with Israel. The Houthis will only target ships that are wholly or partially owned by Israeli individuals or entities, as well as Israel-flagged ships, they said, announcing a partial halt to the attacks in the Red Sea…