Billionaire Shipping Tycoon Considers Paying Iran to Cross Hormuz Strait

A billionaire in the shipping industry has expressed a willingness to pay Iran to facilitate transportation across the contested Strait of Hormuz. During the “TradeWinds” conference in Athens on June 2, Evangelos Marinakis commented that, even if a fee were required, it would be preferable to the straits being closed. He leads one of Greece’s largest shipping companies, Capitol Maritime Group, which operates a fleet exceeding 220 vessels.

Marinakis suggested that paying anywhere from $100,000 to $200,000, depending on the vessel size or cargo weight, would be worth avoiding the associated complications.

In contrast, companies like Chevron and Mitsui OSK Lines have expressed reluctance to accept such fees, which Iran has proposed could reach up to $2 million per ship as of last April.

In remarks reported by the Financial Times, George Prokopiou, another Greek shipowner, argued against imposing tolls, citing numerous global chokepoints. U.S. Secretary of State Marco Rubio reinforced this sentiment on May 18, emphasizing that a tolling system in the strait would be unacceptable, a view shared by the international community.

Rubio mentioned ongoing efforts to negotiate a deal, hinting that alternatives exist should talks not yield favorable results, a stance aligned with President Trump’s directives. The implications of ongoing tensions have already reflected in rising gas prices, which surged over $4 per gallon since the onset of the Iran War and might not drop significantly even after the conflict resolves.