There has been no sign of any significant shift by owners to run their vessels through the Red Sea again in a complex geopolitical climate, Clarksons Research has found.

Israel and Hamas agreed a pause in the Gaza conflict on 19 January, causing Yemen’s Houthi rebels to halt ship attacks on all but Israeli-owned tonnage.

Renewed tensions in February so far have highlighted the fragility of the agreement, Clarksons Research managing director Stephen Gordon said.