Latest news with #Greek-flagged
NDTV
23-06-2025
- Business
- NDTV
Shipping Industry In Middle East On High Alert After US Strikes On Iran
The shipping industry was placed on high alert on Sunday with warnings that Tehran could retaliate against commercial vessels following US airstrikes against Iran's nuclear facilities. Greece, home to more oil-tanker capacity than any other nation, cautioned its ship owners to think again if they're considering entering the Persian Gulf in the wake of US airstrikes. Vessels planning to sail through the Strait of Hormuz, the waterway that sits at the mouth of the region, should "reassess passage" until the situation normalizes, according to a circular seen by Bloomberg that its shipping ministry sent to vessel owners. It advised waiting in nearby safe ports. Naval forces in the area warned that ships, especially US-linked ones, could be at heightened risk. Shipping giant A.P. Moller - Maersk A/S said it continues to transit Hormuz but is ready to re-evaluate its position based on the information available. The actions of the maritime industry - and its risk tolerance - will be a critical detail in the wake of the strikes because of Iran's proximity to the Strait of Hormuz, a conduit for a fifth of the world's oil and an unavoidable searoute into the Persian Gulf. Athens' warning is the latest sign of pressure on shipping markets as attacks on Iran escalate. Tanker earnings already soared by almost 90% since Israel first started conducting airstrikes on June 13. As one of the world's largest shipowning nations, advice to Greece's vessel owners would have a major impact on commodity transportation markets, especially oil. There's every chance shipowners will ignore the advice because the Persian Gulf is too-important a region for them to avoid and rates can always rise to compensate for the risk of sailing in the region. Operators that do decide to transit Hormuz should adopt the highest security level available and maintain the maximum possible distance from Iranian waters, Greece's ministry added. In Sunday's notice, the Greek ministry cited concern around a possible closure of Hormuz as a reason behind its message. Officials at three Greek tanker companies said they were still assessing the situation. One did indicate he might still allow his tankers to enter the region, while another said their ships would likely stay away. Greek government spokesman Pavlos Marinakis said in a statement that the government, via the shipping ministry, advised Greek-flagged and Greek-owned ships in the area of the Strait of Hormuz to go to safe port until the situation normalizes. Bigger Risk Naval groups are also warning of greater risk. On Sunday, the Joint Maritime Information Center, a liaison between navies and merchant shipping in the region, said that the Washington's airstrikes mean US-linked ships sailing through the Red Sea and Gulf of Aden face a high risk of attack. Yemen's Houthi rebel group issued fresh threats against American commercial and naval ships earlier in the day. There had been a ceasefire between the US and the Houthis in early May, geared toward limiting the group's attacks on the US navy. US-linked ships should consider re-routing, the JMIC said in its update. Still, it said some US-associated vessels have successfully transited the Strait of Hormuz, "which is a positive sign for the immediate future." Separately, the European Union's naval force in the region raised its threat assessment for US-linked vessels as a result of the strikes. It now sees a severe threat to ships linked to the US and Israel and a low risk for all other ships. "This does not exclude the possibility of all merchant vessels being targeted in the future," it said in an update published by France's MICA Center, which helps co-ordinate global maritime security.
Hindustan Times
23-06-2025
- Business
- Hindustan Times
Mideast shipping on high alert after US bombs Iranian nuclear sites
The shipping industry was placed on high alert on Sunday with warnings that Tehran could retaliate against commercial vessels following US airstrikes against Iran's nuclear facilities. Oil tankers pass through the Strait of Hormuz(Representative image/Reuters) Greece, home to more oil-tanker capacity than any other nation, cautioned its ship owners to think again if they're considering entering the Persian Gulf in the wake of US airstrikes. Vessels planning to sail through the Strait of Hormuz, the waterway that sits at the mouth of the region, should 'reassess passage' until the situation normalizes, according to a circular seen by Bloomberg that its shipping ministry sent to vessel owners. It advised waiting in nearby safe ports. Naval forces in the area warned that ships, especially US-linked ones, could be at heightened risk. Shipping giant A.P. Moller - Maersk A/S said it continues to transit Hormuz but is ready to re-evaluate its position based on the information available. The actions of the maritime industry — and its risk tolerance — will be a critical detail in the wake of the strikes because of Iran's proximity to the Strait of Hormuz, a conduit for a fifth of the world's oil and an unavoidable searoute into the Persian Gulf. Athens' warning is the latest sign of pressure on shipping markets as attacks on Iran escalate. Tanker earnings already soared by almost 90% since Israel first started conducting airstrikes on June 13. As one of the world's largest shipowning nations, advice to Greece's vessel owners would have a major impact on commodity transportation markets, especially oil. There's every chance shipowners will ignore the advice because the Persian Gulf is too-important a region for them to avoid and rates can always rise to compensate for the risk of sailing in the region. Operators that do decide to transit Hormuz should adopt the highest security level available and maintain the maximum possible distance from Iranian waters, Greece's ministry added. In Sunday's notice, the Greek ministry cited concern around a possible closure of Hormuz as a reason behind its message. Officials at three Greek tanker companies said they were still assessing the situation. One did indicate he might still allow his tankers to enter the region, while another said their ships would likely stay away. Greek government spokesman Pavlos Marinakis said in a statement that the government, via the shipping ministry, advised Greek-flagged and Greek-owned ships in the area of the Strait of Hormuz to go to safe port until the situation normalizes. Bigger Risk Naval groups are also warning of greater risk. On Sunday, the Joint Maritime Information Center, a liaison between navies and merchant shipping in the region, said that the Washington's airstrikes mean US-linked ships sailing through the Red Sea and Gulf of Aden face a high risk of attack. Yemen's Houthi rebel group issued fresh threats against American commercial and naval ships earlier in the day. There had been a ceasefire between the US and the Houthis in early May, geared toward limiting the group's attacks on the US navy. US-linked ships should consider re-routing, the JMIC said in its update. Still, it said some US-associated vessels have successfully transited the Strait of Hormuz, 'which is a positive sign for the immediate future.' Separately, the European Union's naval force in the region raised its threat assessment for US-linked vessels as a result of the strikes. It now sees a severe threat to ships linked to the US and Israel and a low risk for all other ships. 'This does not exclude the possibility of all merchant vessels being targeted in the future,' it said in an update published by France's MICA Center, which helps co-ordinate global maritime security.
Business Times
22-06-2025
- Business
- Business Times
Shipping on high alert in Middle East after US strikes on Iran
[ATHENS] The shipping industry was placed on high alert on Sunday (Jun 22) with warnings that Tehran could retaliate against commercial vessels following US airstrikes against Iran's nuclear facilities. Greece, home to more oil-tanker capacity than any other nation, cautioned its ship owners to think again if they are considering entering the Persian Gulf in the wake of US airstrikes. Vessels planning to sail through the Strait of Hormuz, the waterway that sits at the mouth of the region, should 'reassess passage' until the situation normalises, according to a circular seen by Bloomberg that its shipping ministry sent to vessel owners. It advised waiting in nearby safe ports. Naval forces in the area warned that ships, especially US-linked ones, could be at heightened risk. Shipping giant AP Moller – Maersk said it continues to transit Hormuz but is ready to re-evaluate its position based on the information available. The actions of the maritime industry – and its risk tolerance – will be a critical detail in the wake of the strikes because of Iran's proximity to the Strait of Hormuz, a conduit for a fifth of the world's oil and an unavoidable sea route into the Persian Gulf. Athens' warning is the latest sign of pressure on shipping markets as attacks on Iran escalate. Tanker earnings have already soared by almost 90 per cent since Israel first started conducting airstrikes on Jun 13. As one of the world's largest shipowning nations, advice to Greece's vessel owners would have a major impact on commodity transportation markets, especially oil. There's every chance shipowners will ignore the advice because the Persian Gulf is too-important a region for them to avoid and rates can always rise to compensate for the risk of sailing in the region. Operators that do decide to transit Hormuz should adopt the highest security level available and maintain the maximum possible distance from Iranian waters, Greece's ministry added. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In Sunday's notice, the Greek ministry cited concern around a possible closure of Hormuz as a reason behind its message. Officials at three Greek tanker companies said they were still assessing the situation. One did indicate he might still allow his tankers to enter the region, while another said their ships would likely stay away. Greek government spokesperson Pavlos Marinakis said in a statement that the government, via the shipping ministry, advised Greek-flagged and Greek-owned ships in the area of the Strait of Hormuz to go to a safe port until the situation normalises. Bigger risk Naval groups are also warning of greater risk. On Sunday, the Joint Maritime Information Center (JMIC), a liaison between navies and merchant shipping in the region, said that the Washington's airstrikes mean US-linked ships sailing through the Red Sea and Gulf of Aden face a high risk of attack. Yemen's Houthi rebel group issued fresh threats against American commercial and naval ships earlier in the day. There had been a ceasefire between the US and the Houthis in early May, geared towards limiting the group's attacks on the US navy. US-linked ships should consider re-routing, the JMIC said in its update. Still, it said some US-associated vessels have successfully transited the Strait of Hormuz, 'which is a positive sign for the immediate future'. Separately, the European Union's naval force in the region raised its threat assessment for US-linked vessels as a result of the strikes. It now sees a severe threat to ships linked to the US and Israel and a low risk for all other ships. 'This does not exclude the possibility of all merchant vessels being targeted in the future,' it said in an update published by France's Mica Center, which helps co-ordinate global maritime security. BLOOMBERG
Straits Times
22-06-2025
- Business
- Straits Times
Shipping on high alert in Middle East after US strikes on Iran
Shipping on high alert in Middle East after US strikes on Iran The shipping industry was placed on high alert on June 22 with warnings that Tehran could retaliate against commercial vessels following US airstrikes against Iran's nuclear facilities. Greece, home to more oil-tanker capacity than any other nation, cautioned its ship owners to think again if they're considering entering the Persian Gulf in the wake of US airstrikes. Vessels planning to sail through the Strait of Hormuz, the waterway that sits at the mouth of the region, should 'reassess passage' until the situation normalises, according to a circular seen by Bloomberg that its shipping ministry sent to vessel owners. It advised waiting in nearby safe ports. Naval forces in the area warned that ships, especially US-linked ones, could be at heightened risk. Shipping giant A.P. Moller - Maersk A/S said it continues to transit Hormuz but is ready to re-evaluate its position based on the information available. The actions of the maritime industry – and its risk tolerance – will be a critical detail in the wake of the strikes because of Iran's proximity to the Strait of Hormuz, a conduit for a fifth of the world's oil and an unavoidable sea route into the Persian Gulf. Athens' warning is the latest sign of pressure on shipping markets as attacks on Iran escalate. Tanker earnings already soared by almost 90 per cent since Israel first started conducting airstrikes on June 13. As one of the world's largest ship-owning nations, advice to Greece's vessel owners would have a major impact on commodity transportation markets, especially oil. There's every chance shipowners will ignore the advice because the Persian Gulf is too-important a region for them to avoid and rates can always rise to compensate for the risk of sailing in the region. Operators that do decide to transit Hormuz should adopt the highest security level available and maintain the maximum possible distance from Iranian waters, Greece's ministry added. In June 22's notice, the Greek ministry cited concern around a possible closure of Hormuz as a reason behind its message. Officials at three Greek tanker companies said they were still assessing the situation. One did indicate he might still allow his tankers to enter the region, while another said their ships would likely stay away. Greek government spokesman Pavlos Marinakis said in a statement that the government, via the shipping ministry, advised Greek-flagged and Greek-owned ships in the area of the Strait of Hormuz to go to safe port until the situation normalises. Bigger risk Naval groups are also warning of greater risk. On June 22, the Joint Maritime Information Centre, a liaison between navies and merchant shipping in the region, said that the Washington's airstrikes mean US-linked ships sailing through the Red Sea and Gulf of Aden face a high risk of attack. Yemen's Houthi rebel group issued fresh threats against American commercial and naval ships earlier in the day. There had been a ceasefire between the US and the Houthis in early May, geared toward limiting the group's attacks on the US navy. US-linked ships should consider re-routing, the JMIC said in its update. Still, it said some US-associated vessels have successfully transited the Strait of Hormuz, 'which is a positive sign for the immediate future.' Separately, the European Union's naval force in the region raised its threat assessment for US-linked vessels as a result of the strikes. It now sees a severe threat to ships linked to the US and Israel and a low risk for all other ships. 'This does not exclude the possibility of all merchant vessels being targeted in the future,' it said in an update published by France's Mica Centre, which helps co-ordinate global maritime security. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
19-06-2025
- Business
- Yahoo
Only US can engage Israel and Iran in discussions, Greek PM says
ATHENS (Reuters) -Only the United States has the clout to engage Israel and Iran in negotiations as the two countries continue to trade air attacks, Greek Prime Minister Kyriakos Mitsotakis said on Wednesday. "Europe alone does not have the necessary influence to bring the parties concerned to the (negotiation) table. Only the United States can do that. So I think it is up to the President of the United States to decide which path to take," Mitsotakis said in an interview on the sidelines of an energy conference in Athens. The foreign ministers of Germany, France and Britain plan to hold nuclear talks with their Iranian counterpart on Friday in Geneva, a German diplomatic source told Reuters. "We are all very concerned about any factor that will push inflation up and significantly disrupt energy markets," Mitsotakis said. He said Greece was also very worried about the safety of around 180 Greek-flagged and Greek-owned ships that sailed in the wider Persian Gulf region when Israel first attacked Iran last week. Greek owners control the world's largest fleet of oil tankers. Commercial ships are being advised by maritime agencies to avoid Iran's waters around the Strait of Hormuz, shipping sources said on Wednesday.
