X.com (video capture)

The head of shipping’s top lobby group has welcomed the “positive developments” witnessed in Qatar in recent days where ceasefire talks are underway between Israel and Hamas. 

Details are emerging of a potential ceasefire between Israel and Hamas after more than 400 days of war, a development that could usher in the end of the Red Sea shipping crisis, which has seen a huge swathe of the global merchant fleet avoid transits through the Middle East, propping up rates for the past year. 

US president Joe Biden has said a deal is “on the brink” of coming to fruition, with Hamas and Israeli officials conducting indirect talks led by Qatar today.

Under the terms of the deal being discussed, Hamas would release three hostages on the first day of the agreement, after which Israel would begin withdrawing the troops from populated areas. Further phases of the ceasefire see greater de-escalation between the two enemies who have been at war since October 2023. 

Shipping needs to maintain its watch until any final agreement is reached and verified

In support of Hamas, the Houthis from Yemen i…