Greek Tanker Owners Move Ships Closer to Persian Gulf Betting on Hormuz Access

Some Greek oil tanker owners are moving their ships closer to the Persian Gulf in a bet that the vessels will soon be able to earn sky-high rates if the Strait of Hormuz reopens.

Capital Maritime & Trading Corp. has been pulling a lot of its tankers to within three to five days’ sailing of the Persian Gulf, near India and east Africa, the firm’s backer Evangelos Marinakis said at the TradeWinds Shipowners Forum in Athens on Tuesday. At least one other Greek owner has been positioning some of their ships similarly, according to a person familiar with the matter.