#operations

Tankers Gather Outside Persian Gulf in Wager on Hormuz Reopening

Greek oil tanker owners, including Capital Maritime & Trading Corp. backed by Evangelos Marinakis, are positioning ships within three to five days' sailing of the Persian Gulf near India and east Africa, betting on Hormuz reopening. Saudi tanker giant Bahri has at least six supertankers waiting for more than a month, while Frontline Plc estimates about 55 ships are waiting in total, seeking to capitalize on lucrative shipping flows if peace talks between the US and Iran succeed.