Splash has obtained an advanced copy of the tentative ceasefire agreement between Israel and Hamas, expected to be agreed upon shortly. Shipping analysts contacted by Splash, however, remain cautious on prospects for a swift resumption of merchant trade along the Red Sea. 

Qatar has been hosting indirect talks between the two sides who have been at war for more than 400 days. The ceasefire agreement is split into three phases, each phase lasting 42 days. After this six-month ceasefire, a huge reconstruction plan is planned for the Gaza Strip over the next three to five years, led by Egypt, Qatar, and the United Nations. 

In support of Hamas, the Houthis from Yemen initiated a campaign against merchant ships passing through the Red Sea and the Gulf of Aden, targeting more than 100 ships since November 2023, leading to a major rerouting for most ships heading between Asia and Europe. The ensuing Red Sea shipping crisis was selected by Splash editorial staff as the top news item of 2024. The Houthis have repeatedly stated their campaign will continue until Israeli forces leave Gaza. 

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