Maritime security assessments released on February 20, 2026, indicate that the security environment in the Red Sea remains 'moderate to high' risk despite a fragile ceasefire agreement. The Houthi movement in Yemen has maintained a 'virtual maritime blockade,' conditioning their suspension of attacks on Israeli-affiliated vessels on the stability of the Gaza ceasefire. Consequently, the European Union has extended its naval mission, EUNAVFOR ASPIDES, until February 28, 2026, to protect merchant shipping in the Bab al-Mandab and Gulf of Aden. Shipping companies continue to face operational deadlocks, with over 100 merchant vessels diverted around the Cape of Good Hope as of early 2026. New reports have also surfaced regarding sophisticated GPS jamming and spoofing near the Eritrean coastline, complicating navigation for the few carriers attempting the Suez Canal route. Global maritime authorities emphasize that a broad return to regular transits will require sustained regional stability that remains elusive.