Shipping stocks fell collectively. As of press time, TS LINES (02510) dropped 4.92% to HK$8.7, SITC (01308) declined 2.89% to HK$29.58, COSCO SHIP HOLD (01919) slid 2.33% to HK$13.83, and OOIL (00316) dipped 1.93% to HK$132.2.

The Houthi group issued a warning on November 9, stating that if the Gaza ceasefire agreement collapses and Israel resumes its offensive, the group would restart attacks on Israel and ban Israeli vessels from navigating the Red Sea and Arabian Sea. Since no attacks have been claimed since the ceasefire began on October 10, the market interpreted this as a signal that the Houthis have halted assaults.

However, concerns persist that a large-scale return to the Red Sea could trigger a further sharp decline in global freight rates across routes. A research note from a futures firm noted that while media reports suggest the Houthis have announced an end to attacks on commercial ships in the Red Sea, the authenticity of the news remains unverified. Even if some senior Houthi officials made such statements, liner companies may remain cautious about potential reversals due to the Gaza conflict, avoiding immediate full-scale resumption of operations. Instead, a gradual, small-scale trial approach to reopening routes appears more likely.