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Greek Shipowner Defies Risks in Strait of Hormuz

Published March 7, 2026, 09:12
Greek Shipowner Defies Risks in Strait of Hormuz

A Financial Times report focuses on Greek shipowner George Prokopiou and his company Dynacom Tankers' decision to continue operating in the Strait of Hormuz despite increased risks due to the conflict in the Middle East. Most shipowners are avoiding the area due to heightened threats, but Dynacom Tankers continues to run routes, taking advantage of high freight rates. This decision is considered bold, given the danger of the region, where attacks on commercial ships and loss of life have already occurred. Tanker rates have soared, reaching $700,000 per day for a VLCC carrying oil to China, excluding the cost of additional war risk insurance.