Lured by profits, some shipowners brave mines and missiles to sneak oil past Iran

ATHENS, March 13 - A handful of Greek shipowners have sent crude oil and dry bulk tankers through the Strait of Hormuz during the U.S.-Israeli war on Iran, risking destruction from mines, missiles and drones for a chance at millions of dollars in quick profits. Read more at straitstimes.com.

ATHENS, March 13 - A handful of Greek shipowners have sent crude oil and dry bulk tankers through the Strait of Hormuz during the U.S.-Israeli war on Iran, risking destruction from mines, missiles and drones for a chance at millions of dollars in quick profits.

The voyages reflect the financial allure of soaring crude oil prices and surging tanker rates since the start of the war, which has effectively sealed off a fifth of the world’s oil and liquefied natural gas supply from global markets.

U.S. President Donald Trump has urged ships to "show some guts" and run the strait, although the U.S. military has declined requests from the shipping industry for escorts through the waterway because of the risk of attack.

"The risks are huge. But the sea has always been a risky business," said a Greek shipowner involved in the voyages who declined to be identified because of the sensitivity of the trade.

At least 10 ships operated by Greek companies, and at least two Chinese-operated vessels, have sailed through the strait between Iran and Oman since U.S. and Israeli strikes began on February 28, according to data from maritime specialists Lloyd's List Intelligence and MarineTraffic.

Companies involved include shipping magnate George Prokopiou's Dynacom, and the Embiricos family’s Aeolos Management, according to six industry sources familiar with the matter.