The peace deal between Israel and Hamas appears to open a new chapter in shipping through the Suez Canal, one of the world’s most important trade passages. After months of tension and attacks in the Red Sea by Yemen’s Houthi rebels, the gradual de-escalation of the crisis is creating conditions for a return to normalcy for maritime transport linking Asia to Europe.

Despite the positive climate, Western coalition naval forces protecting merchant ships in the region still assess the danger as real. The Houthis, although they have reportedly been ordered by their leader, Abdul Malik al-Houthi, to stop attacks on Israeli-linked ships, have given no clear signs of a full withdrawal from their operations.

The Joint Maritime Information Center (JMIC) maintains that the threat level is “critical” for Israel-linked ships and “significant” for all others. As noted, the situation in the Red Sea and the Gulf of Aden remains volatile, as the local balance is fragile.

The Suez Canal, a strategic hub for international shipping, has suffered a serious blow in recent months. In 2023, 26,434 ships traversed the canal, while in 2024 the number was almost halved – just 13,213 ships. The diversion of routes around the Cape of Good Hope has caused delays, increased costs and limited available capacity on container ships.

The eventual normalization of conditions will, according to shipping analysts, lead to a sharp increase in transits through the canal and thus provide relief to European ports where traffic had been deregulated. However, the sharp increase in the supply of shipping capacity is expected to put pressure on freight rates, which are already trending downwards.