Houthis release Galaxy Leader’s crew
Oil prices retreated after the Yemen-based Houthi rebel group released the crew of car carrier Galaxy Leader more than a year after being held hostage.
PHOTO: NYK Line-chartered Galaxy Leader vessel. Fleetmon.net
The announcement comes days after a ceasefire deal was reached between Israeli Prime Minister Benjamin Netanyahu’s war cabinet and the Iran-backed Hamas armed group in the Gaza Strip.
The vessel’s crew was released yesterday “in coordination with Hamas and with Omani mediation,” Houthi spokesperson Mohammed al-Bukhaiti said on social media platform X (formerly Twitter).
Brent’s price declined following the news as it can alleviated supply disruptions in the war-torn Middle East, according to market analysts.
The announcement “was seen as validation of the rebel group’s promise over the weekend to cease attacks on ships as long as the Gaza ceasefire holds,” VANDA Insights’ founder and analyst Vandana Hari remarked.
These developments have also eased security fears in the Red Sea shipping corridor, a key route for global trade that many shipping companies have avoided because of repeated attacks on commercial vessels.
The NYK Line-chartered Galaxy Leader had 25 seafarers from Bulgaria, Ukraine, Mexico, Romania and the Philippines onboard when it was captured. The vessel was anchored in Yemen’s port of Hodeidah, after being hijacked on 19 November 2023, soon after Israel-Hamas conflict broke out.
"We call on all nations to support our seafarers and shipping so that this does not happen again," the International Chamber of Shipping (ICS) said in a statement following the announcement.
By Aparupa Mazumder
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