Greek shipping magnate Evangelos Marinakis said he would pay transit fees to keep the Strait of Hormuz open. At the TradeWinds conference in Athens, the 185‑vessel fleet owner warned that closing the waterway would hurt global trade. He offered to pay $100,000 to $200,000 per ship for security and continuity.

Marinakis cited Houthi attacks forcing ships onto the Cape of Good Hope, adding $1 per barrel to tanker costs. He contrasted this with a flat fee, arguing it would cover damages and keep lanes open. His stance differs from peers like Chevron and Mitsui, who refuse tolls for their operations.

Iran’s Revolutionary Guard announced fees up to $2mn per vessel, creating a new Persian Gulf Strait Authority under U.S. sanctions. Only ships with Iranian agreements or who paid have passed. Marinakis plans to position his discounted fleet for quick reentry, hoping a peace deal will reopen the Gulf for shipping.

The offer signals a shift in Greek shipping’s approach, prioritizing market stability over political protest. Investors watch as Marinakis’s willingness to pay could set a precedent, potentially easing tensions and restoring flow through one of the world’s busiest chokepoints. His move may influence other fleets’ cost calculations for future trading.