In a pragmatic intervention amid escalating tensions in one of the world’s most critical maritime chokepoints, prominent Greek shipowner Evangelos Marinakis has declared his willingness to pay substantial transit fees through the Strait of Hormuz rather than face the economic chaos of a blockade or prolonged disruption.
Speaking at a TradeWinds News forum during the Posidonia shipping event in Athens, Marinakis stated: “For me, it is better to pay a fee of $100,000 or $200,000, depending on the size of the cargo or the size of the vessel, than to have all this hassle.” He suggested that such tolls could even help compensate Iran for damages from recent conflicts.
Marinakis, through his Capital Maritime Group, oversees a fleet of approximately 150–185 vessels, including oil tankers, LNG carriers, and bulk carriers. He is widely regarded as one of the 100 most influential figures in the international shipping industry, a status built on expanding a family business into a global powerhouse.
His comments come against the backdrop of heightened risks in the Strait of Hormuz, through which roughly one-fifth of global oil supplies pass. Shipping companies have already incurred significant costs from rerouting vessels around Africa, elevated war-risk insurance premiums, and operational uncertainties tied to regional conflicts.
Marinakis argued that a predictable toll system would provide immediate safety and reliability for crews and cargo, contrasting sharply with the unpredictability of disruptions. In a follow-up statement, he reiterated a preference for paying for safe, direct passage over absorbing ongoing extra costs.
While best known in maritime circles, Marinakis has diversified interests that extend his influence. He owns Greek football club Olympiacos, which has enjoyed significant success under his stewardship, including multiple domestic titles and European triumphs. In 2017, he acquired English club Nottingham Forest, bringing Premier League attention to his portfolio. He has also been linked with Portuguese side Rio Ave.
Additionally, Marinakis controls a substantial media presence in Greece through Alter Ego Media and remains active in local politics and philanthropy in Piraeus.
The proposal has drawn attention as a business-first perspective on geopolitics. Greek Prime Minister Kyriakos Mitsotakis previously cautioned against Iran imposing unilateral tolls on the waterway.
For the shipping industry, Marinakis’ stance underscores a preference for pragmatic solutions that minimize downtime and financial volatility. With global trade heavily dependent on secure passages like Hormuz, his views reflect the calculations many operators are making amid ongoing instability.
Whether such a toll system materializes remains to be seen, but the intervention from one of shipping’s heaviest hitters highlights the sector’s urgent desire for stability over confrontation. As Marinakis and his fleet navigate these turbulent waters—literally and Symbolically, his message is clear, predictable costs are preferable to unpredictable chaos.
