Tankers Gather Outside Persian Gulf in Wager on Hormuz Reopening

By Weilun Soon and Alex Longley

Jun 3, 2026 (Bloomberg) –Some Greek oil tanker owners are moving their ships closer to the Persian Gulf in a bet that the vessels will soon be able to earn sky-high rates if the Strait of Hormuz reopens. 

Capital Maritime & Trading Corp. has been pulling a lot of its tankers to within three to five days’ sailing of the Persian Gulf, near India and east Africa, the firm’s backer Evangelos Marinakis said at the TradeWinds Shipowners Forum in Athens on Tuesday. At least one other Greek owner has been positioning some of their ships similarly, according to a person familiar with the matter. 

The moves underscore the lucrative potential of a resumption of shipping flows through Hormuz, even if there’s little clarity today on the status of peace talks between the US and Iran. Any ship able to quickly enter the Persian Gulf if the war ends would be in high demand as producers rush to resume exports after months of disruption. 

Leaving ships near the gulf without cargoes isn’t without risk. The longer Hormuz remains shut, the more the vessels aren’t earning money. In contrast, if they sailed to the U.S. Gulf they could pull in about $100,000 a day, earnings that in normal would be very attractive for most tanker owners.

Also, the timeline for the restoration of Hormuz shipping remains highly uncertain. In the event of a peace deal, shipowners would still need assurances that the strait is free of mines. Last week, Oman urged ships to exercise caution after reports of of a suspected mine that was found in its waters in Hormuz. 

Since the war began there has been a patchwork of approaches to crossing the waterway. While many owners are staying away, some of the shipping industry’s bolder operators have continued to sail through. More recently, a growing number of tankers have transited with their signals off, quietly helped by the US, while other vessels have sailed past Iranian waters as a result of government to government agreements, which has included the payment of tolls. 

Marinakis also said that he would prefer to pay a toll than keep Hormuz closed. That’s in contrast to another major Greek owner, who this week said tolls around Hormuz could never be accepted. 

“My opinion is that even if we have to pay for a fee, for me was much better than to have the Strait closed,” Marinakis said. 

Some shipping businesses owned by Middle Eastern oil producers have also positioned their ships in the Indian Ocean, more out of necessity than in the hope for large profits. Saudi tanker giant Bahri has at least six supertankers that have been waiting for more than a month, according to vessel tracking data compiled by Bloomberg. 

Frontline Plc, one of the world’s top supertanker owners, estimated last month that in total about 55 ships are waiting. 

© 2026 Bloomberg L.P.

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