Greek Shipping Magnate proposes Iranian transit fee for Hormuz

Wednesday 03 - 16:09

By: Dakir Madiha

Greek Shipping Magnate proposes Iranian transit fee for Hormuz

Evangelos Marinakis told shipping executives that paying Iran a transit fee of 100,000 to 200,000 dollars per vessel would be preferable to a prolonged closure of the Strait of Hormuz. He delivered the remarks at an industry forum in Athens held during a major maritime gathering. He argued that a predictable fee system would reduce disruption for global shipping operators.

Marinakis, who leads a major shipping company controlling more than 150 vessels including tankers, LNG carriers, and bulk ships, said such payments could offset wider economic damage linked to military strikes on Iran. His proposal directly challenges positions taken by several governments. The United States has rejected any idea of formal transit payments. The Greek government has also opposed the concept of a toll system in the waterway.

Other shipowners expressed different views on the same issue. George Procopiou said Greek maritime tradition favors maintaining passage even under blockade conditions rather than accepting structured payments for transit. His company has reportedly operated vessels through the area during periods of heightened tension, using alternative payment arrangements in some cases. He dismissed the idea of a formalized fee system for passage through the strait.

The Strait of Hormuz remains one of the most sensitive maritime chokepoints in the world, carrying around one quarter of global oil shipments. Since early March, commercial traffic has been heavily disrupted following military strikes involving the United States and Israel against Iran. A brief reopening announced in April was reversed within a day after renewed restrictions imposed by Iran’s Revolutionary Guard.

The disruption has reshaped global shipping costs and risk calculations. Freight rates for container shipments from Asia to the Mediterranean rose sharply over recent months, with increases exceeding 60 percent. Insurance premiums for war risk coverage have also climbed significantly, reaching levels far above pre-conflict norms. Against this backdrop, the proposed transit fee appears small compared with broader losses faced by shipping operators.