George Procopiou: Shipping Activities in the Strait of Hormuz Despite Tensions

Greek shipowner George Procopiou continues his activities in the Strait of Hormuz, despite reduced shipping due to the conflict in the Middle East, according to the Financial Times.

The shipping company Dynacom Tankers, owned by the 79-year-old shipowner, is reportedly operating routes in the Strait of Hormuz, in the Persian Gulf, the Gulf of Oman, and the Northern Arabian Sea.

Freight rates for tankers have increased significantly, with a VLCC earning approximately $700,000 per day for transporting oil to China, excluding additional war risk insurance.

However, there are risks, as Iran has threatened attacks and there have been recorded losses of sailors since the start of the conflict on 28.02.2026.