A handful of Greek shipowners are sending crude oil and dry bulk tankers through the Strait of Hormuz, a critical maritime chokepoint, despite significant risks from an ongoing regional conflict involving the U.S., Israel, and Iran These voyages are driven by powerful financial incentives, as the conflict has disrupted global energy markets, causing crude oil prices and tanker charter rates to surge The situation presents a high-stakes trade-off between immense potential profits and the severe dangers posed by mines, missiles, and drones in the contested waterway
The conflict has effectively sealed off approximately one-fifth of the world’s oil and liquefied natural gas supply, creating a volatile market where shippers can earn millions of dollars on a single successful voyage At least ten vessels operated by Greek companies have reportedly made the transit since the conflict began The actors involved highlight a complex geopolitical dynamic. While shipping firms and their crews face the immediate physical threats, the United States government has taken a bifurcated stance. U.S. President Donald Trump has publicly encouraged commercial vessels to “show some guts” and continue operations through the strait
However, this encouragement has not been matched by military support. The U.S. military has declined requests from the shipping industry for naval escorts, citing the high risk of attack in the narrow waterway This leaves commercial vessels and their multinational crews to navigate the threat landscape on their own. One Greek shipowner, speaking anonymously, acknowledged the immense dangers but framed them as an inherent part of the maritime industry, stating, "The sea has always been a risky business" The ongoing transits underscore the tension between national security interests, corporate profit motives, and the stability of global energy supplies during a major international crisis.
Mohsin Rana
