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After over 17 months of maritime disruptions, President Donald Trump declared the Red Sea shipping crisis over, citing a ceasefire agreement with Yemen's Houthi rebels. The Houthis have agreed to halt attacks on commercial vessels, while the U.S. will cease airstrikes against the group. Omani mediation played a pivotal role in brokering this deal, which is expected to ensure freedom of navigation in the Red Sea and the Bab al-Mandab Strait.

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Despite the announcement, shipping volumes in the Red Sea remain approximately 50% below 2023 levels. Analysts suggest that while the ceasefire is a positive development, a full recovery of shipping operations will depend on the sustained commitment of both parties to uphold the agreement and ensure maritime security. Read the full article here.

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