Finance
Greek shipping minister warns of alarming situation in strait of hormuz
Published by Global Banking & Finance Review®
Posted on March 3, 2026
2 min readLast updated: March 3, 2026
Quick Summary
Greece’s shipping minister raises alarm over the “alarming” closure of the Strait of Hormuz, where dozens of Greek‑flagged vessels and over 325 ships of Greek interests are stranded amid rising Iran conflict and threats from the IRGC.
Greek shipping minister warns of alarming situation in Strait of Hormuz
Greek Response to Strait of Hormuz Crisis
By Renee Maltezou
Current Situation in the Strait of Hormuz
ATHENS, March 3 (Reuters) - Greece's shipping minister on Tuesday called for the protection of global shipping and seafarers, amid an "alarming" situation that has left dozens of ships stranded in the Strait of Hormuz and the wider area due to the widening Iran conflict.
Traffic through the Strait of Hormuz was closed for a fourth day on Tuesday, choking off a key artery accounting for about 20% of global oil and gas supply. An Iranian Revolutionary Guards senior official said on Monday Iran would fire on any ship trying to pass through, Iranian media reported.
Importance of Greek Shipping
Greece is a dominant force in global shipping, controlling one of the world’s largest merchant fleets.
Minister's Statement on Safety and Commerce
"This is alarming and worrying, and I wish that global shipping was left out of war conflicts," Vassilis Kikilias told Reuters, when asked about the safety of seafarers and how they can be protected.
"Global shipping has to do with global commerce, which everybody needs. And sailors, of course, are not to blame."
Greek Ships and Seafarers in the Region
He said that at least 10 Greek-flagged ships were in the Gulf and another five outside, their crews including dozens of Greek seafarers. More than 325 ships of Greek interests are in the wider area.
Ministry Actions and Safety Measures
The shipping ministry has advised vessels to avoid the region since Saturday and the safety of seafarers is a top priority, Kikilias added.
"We're in communication with them day and night, 24/7, I'm happy they're okay, but I'm worried, and we are worried, of course, because the area is in danger," he said. "We cannot dismiss the possibility of bigger problems."
Repatriation Efforts for Greek Nationals
Greece said on Tuesday that it has set up a plan to repatriate thousands of its stranded nationals but their return is difficult as the airspace over the region remains closed.
(Additional reporting by Vania Turner; Editing by Alison Williams)
Key Takeaways
- •The Strait of Hormuz remains effectively closed for a fourth day as Iran’s IRGC vows to fire on any vessel attempting passage, putting at least 150 ships at risk and halting a vital artery accounting for about 20% of global oil and gas supply (timesofindia.indiatimes.com).
- •Greece, which controls around 16–21% of global shipping tonnage and dominates tanker orders, says at least 10 Greek‑flagged ships (with dozens of seafarers), plus hundreds of other vessels of Greek interests, are stranded—with continuous monitoring and advisories in place (naftemporiki.gr).
- •Global maritime insurers have already canceled war‑risk coverage effective March 5, freight rates are surging, container rerouting is underway, and energy markets are reacting to both supply disruptions and insurance pull‑back (theguardian.com)
References
Frequently Asked Questions about Greek shipping minister warns of alarming situation in Strait of Hormuz
1Why are ships stranded in the Strait of Hormuz?
Ships are stranded due to the closure of the Strait following the widening Iran conflict and related security threats.
2How much global oil and gas supply passes through the Strait of Hormuz?
About 20% of global oil and gas supply typically passes through the Strait of Hormuz.
3What has the Greek shipping ministry advised vessels to do?
The ministry has advised vessels to avoid the region since Saturday for safety reasons.
4How many Greek-flagged ships are affected in the Gulf and surrounding area?
At least 10 Greek-flagged ships are in the Gulf and another five are just outside, including dozens of Greek seafarers.
5What steps has Greece taken for stranded nationals?
Greece has set up a repatriation plan for thousands of stranded nationals, though return is difficult due to closed airspace.
