Executives from shipping, insurance and retail industries told Reuters the risks remained too high to resume voyages through the Bab al-Mandab strait in the Red Sea through which exports to Western markets from the Gulf and Asia must pass before entering the Suez Canal.

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

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.

Navy officials began to open up about the lessons they are learning from the months of sustained combat in the Red Sea against Houthi forces in Yemen, including how the service shot down its own jet last month.

Houthi, said the Iran-aligned group will monitor the implementation of a ceasefire deal between Israel and Hamas and will continue its attacks on ships in the Red Sea if it is breached.

Lucianna was one of the last of 35 survivors to be rescued from the wreck of the Sea Story, an Egyptian dive vessel that sank in the Red Sea on 25 November last year. Up to 11 people died or are still missing, including two Britons, Jenny Cawson and Tarig Sinada from Devon.

A.P. Moller-Maersk expressed caution about any fast return to shipping through the Red Sea, after the Yemen-based Houthis signaled a pause in their attacks on commercial vessels.

The 11 survivors who have spoken to the BBC have also accused the Egyptian authorities of trying to cover up what happened, saying investigators were determined to blame it on a huge wave.

Average capacity offered on Asia-to-Europe routes has increased just 8.8 percent, despite 31 percent more ships on the route, according to Alphaliner.

Houthi, said the Iran-aligned group will monitor the implementation of a ceasefire deal between Israel and Hamas and will continue its attacks on ships in the Red Sea if it is breached. The Houthis have carried out more than 100 attacks on ships since November 2023 and have sunk two vessels,

Lucianna na one of di last of 35 survivors to dey rescued from di wreck of di Sea Story, an Egyptian dive vessel wey sink for di Red Sea on 25 November last year. Up to 11 pipo die or still dey miss, including two Britons, Jenny Cawson and Tarig Sinada from Devon.