Greek shipping giant takes a big gamble in Hormuz, sending empty ships through the world's most dangerous strait; eight vessels have already crossed.
- According to an exclusive report by the UK's Financial Times on Tuesday, a major Greek shipping company has deployed four empty vessels to the Strait of Hormuz, with two additional ships positioned near the Arabian Sea, as they await the possible reopening of this strategic waterway. The founder of Dynacom Tankers, known as one of Greece's boldest shipowners, was among the first shippers to cross after the de facto closure of the strait at the end of February, having dispatched at least eight ships through by the end of May.
- The founder stated at a shipping conference in Athens on Monday that Greece has a tradition of breaking blockades dating back to ancient Greek times. He referenced the history of Greek merchants breaking the Anglo-French blockade during the Napoleonic Wars, and with a mysterious tone implied that there are enough clues to understand his intentions. Meanwhile, the founder of another major Greek tanker company said that shipping companies could wait another month to observe the outcome of US-Iran negotiations.
- Ship tracking data shows that the Kerala and Kos, operated by Dynacom and loaded with Saudi fuel oil, crossed the strait after turning off their transponders in the last week of May and are now located inside the Gulf. The company operates a total of 65 crude oil and product tankers, and the founder's three companies collectively own more than 150 active vessels.
- Before the US and Israel launched attacks and Iran retaliated, about 135 ships passed through the Strait of Hormuz daily, but this has now sharply dropped to sporadic levels. Since the conflict erupted, more than 40 vessels have been hit or damaged. On Monday, Iran decided to suspend negotiations with the US and threatened to completely close the Strait of Hormuz, triggering a new wave of concerns over a global energy crisis.
- The shipping giant warned that no nation should impose transit fees or any other charges on maritime passages. Meanwhile, rates in the tanker industry have nearly doubled from about $200,000 per day at the outbreak of the conflict. Shipping executives expect a long-term structural reshaping of global oil flows, with Asian importers reducing dependence on Middle Eastern shipments and an increased share of Atlantic-to-Asia market oil.
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