Shipping companies are still steering clear of the troublesome waters, with ABG Sundal Collier analyst Petter Haugen calculating Gulf of Aden arrivals are down 72% from the 2023 average.

The militant group said Friday it would resume naval operations if Israel didn't lift its blockade on humanitarian aid to the Gaza Strip by Tuesday.

Yemen 's Houthi movement has declared its intention to resume attacks on Israeli ships in the Red Sea following the expiration of its deadline for Israel to restore humanitarian aid to Gaza. The renewed threat comes after the group's four-day ultimatum for Israel to reopen aid crossings into Gaza expired.

Yemen's Houthis escalate attacks on American and Israeli ships, threatening trade routes as tensions in the Red Sea rise.- Watch Video on English Oneindia

The Iran-backed Houthis engaged in missile and drone attacks on cargo ships and other vessels sailing in the Red Sea and Gulf of Aden for more than a year, rattling global freight markets. The campaign began after the Hamas assault on Israel in October 2023 triggered the war in Gaza.

Yemen's Houthi rebels, seeking to halt Israel's attacks on the Gaza Strip, have repeatedly targeted vessels in the Red Sea. View on euronews