ATHENS — Shipping executives meeting in Athens on Monday warned that a potential peace deal between the United States and Iran is only the first step toward normalcy. For vessels to resume regular business through the volatile Strait of Hormuz, global leaders must provide a clear framework and unambiguous rules of engagement.
The gathering of shipowners and maritime industry officials at the Capital Link conference marked the beginning of Posidonia, a week-long biennial shipping exhibition, amid cautious optimism surrounding a potential pause in regional hostilities.
Arsenio Dominguez, Secretary General of the International Maritime Organisation (IMO), noted that the industry is closely watching diplomatic developments. "There have been... recent announcements that there's a possibility of a 60-day ceasefire," Dominguez said. "If that includes, of course, the Strait of Hormuz, and I can get guarantees from the countries that it is safe to start using the waterway, that's where the evacuation framework immediately will come and kick in."
For the IMO, the immediate priority remains the human cost of the conflict. "That's what we're looking for, because the first objective is always to seafarers, to engage, so they can actually leave the conflict zone," Dominguez added.
The human toll is already deeply felt by operators. Pankaj Khanna, President of Heidmar Maritime Holdings Corp, shared that his company has had a vessel stuck inside the Gulf for the past three months. He emphasized that diplomatic signatures on a page are not enough for ship operators to risk returning. "What we need is obviously a framework, a rules regulation, whatever tells us exactly how we can go in and get out," Khanna said. "So even if a peace deal was signed, that needs to be clarified and that we don't know as yet."
Khanna also highlighted the emotional strain on those trapped at sea, noting the profound impact on crew members. "Obviously the seafarers on board are missing out, not only on seeing their families but also on births, on deaths, on marriages."
The complexity of untangling the geopolitical knot was echoed by Greece’s Shipping Minister, Vasilis Kikilias, who expressed pragmatism about how quickly the crisis can be resolved. "Can somebody predict (an end to the conflict)? Unfortunately, no... Things get messy in terms of conflicts very, very easily, and they get untangled, (but that is) very, very difficult."
Kikilias stressed that the global economy cannot endure a permanent blockade of critical maritime chokepoints. "We are hoping, of course, that there will be a solution. We cannot accept that there will be no free (passage) for ships all over the globe," he said. "I wish that they would leave the shipping industry, the seafarers, and global trade out of the equation, but it seems like this is impossible."
Yiannis Procopiou, CEO of Centrofin Management, agreed that standard risk-mitigation tools are currently insufficient to justify the danger of transiting the strait. "While insurance might be available, this does not mean that the strait is really a place where you want to be transiting," Procopiou cautioned, "at least until we have clear rules of engagement as the shipping industry, as to how we deal with the two nations that are involved here, the U.S. and Iran... That's, right now, a very high risk proposition."
Despite the immediate friction, some prominent industry figures urged patience, arguing that holding out for a comprehensive, airtight agreement is preferable to a rushed fix.
Evangelos Marinakis, Founder and Chairman of Capital Maritime & Trading Corp, acknowledged the widespread economic pressure the conflict creates. "We all agree that the war should stop, should finish yesterday even... the consumer pays the price all around the world," Marinakis said.
However, he suggested the industry could absorb a short delay if it guarantees long-term stability. "On the other hand... from what we have seen so far, we can afford to wait for two weeks more, one month more... if the final agreement was good for all of us... an agreement that would make us feel safe and confident for the future. I am quite optimistic that waiting for a couple of weeks or a month, a solution will be found."
Ultimately, the consensus among attendees was that the fundamental right to open seas must be fiercely defended.
George Procopiou, Founder of Dynacom Tankers Management, Dynagas, and Sea Traders, struck a historic and defiant note on the necessity of unhindered commerce.
"Freedom of navigation is essential and nobody can impose tolls or any other burden," Procopiou said, pointing to the resilient heritage of the host nation. "Greece has the tradition of breaking blockades since antiquity."
