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ADNOC shipping dismiss fast return to Red Sea, CEO says

Red Sea shipping stays dangerous despite the Gaza ceasefire and an announcement by Yemen's. Houthis to restrict attacks, according to the CEO of Abu Dhabi. National Oil Company's logistics and shipping arm.

Shipping executives stay mindful about a go back to the. Red Sea provided the threat to seafarers, cargo and their possessions. The. Iran-backed Houthis have performed more than 100 attacks on. ships because November 2023, resulting in a lot of shipping business. diverting vessels away from the Suez Canal to instead use the. longer route around southern Africa.

As we speak today, we can not state it's practically totally. gone, and it's a go ahead for all the fleet to go inside the Red. Sea. As I said, there is an individuals side of it, so we can not run the risk of. our individuals going there while there is maybe a fragile ceasefire. now, ADNOC Logistics & & Provider CEO Abdulkareem Al . Masabi informed Reuters.

Danish shipping company Maersk said on Friday. it would continue to reroute around Africa by means of the Cape of Good. Hope till safe passage through the Red Sea and Gulf of Aden. location was ensured for the longer term.

The Houthis will limit their attacks on commercial vessels. to Israel-linked ship supplied the Gaza ceasefire is fully. implemented, although they have actually conditioned their stop in. attacks on U.S. or UK linked shipping with different provisos,. which has actually contributed to caution on any return, shipping and insurance coverage. sources state.

The Houthis on Wednesday freed crew of the Galaxy Leader, a. vessel that the militant group seized more than a year back. And. Washington this week designated the Houthi movement as a. foreign terrorist organization, which is most likely to add to. fresh tensions with the militia.

(source: Reuters)