(Bloomberg) —
Greece’s navy extended for a sixth time a series of naval drills, prolonging them by another four months as the country tries to deter Russian oil transfers off its coastline.
The maneuvers, which had been due to end Nov. 15, will now continue until mid-March — more than ten months after they first started — according to a notice on the Hellenic Navy Hydrographic Service’s website.
The country’s Laconian Gulf at one point became a hotspot for ship-to-ship transfers between aging tankers carrying Russian oil. As a result, Athens announced in May that it would be carrying out naval drills in the region, prohibiting the entry of commercial vessels.
The government has previously said the drills were aimed at stopping transfers of cargo identified by the world’s shipping watchdog as a risk to maritime safety.
As a result, trans-shipments of Russian oil have moved to a host of new locations, including others in the Mediterranean Sea, Red Sea and off the coast of West Africa.
© 2024 Bloomberg L.P.
This article contains reporting from Bloomberg, published under license.
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(Bloomberg) — A Greek shipowner whose vessels have repeatedly braved the Strait of Hormuz during the Iran war sent through its biggest oil supertanker since the start of the conflict....
Crude tanker-owner Capital Tankers Corp.’s shares fell in their Oslo debut on Tuesday, as the closure of the Strait of Hormuz has disrupted global oil transit and markets.
A handful of Greek shipowners have sent crude oil and dry bulk tankers through the Strait of Hormuz during the U.S.-Israeli war on Iran, risking destruction from mines, missiles and drones for a chance at millions of dollars in quick profits.
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