Yemen’s Houthi rebels and the Yemen branch of the Palestinian group Hamas on Wednesday linked the release of the crew of the Galaxy Leader vessel to the ceasefire agreement that took effect in Gaza on Sunday.

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.