Which European countries' ships are most hit by the Hormuz crisis?
Euronews.com • • world
Key Points:
- The closure of the Strait of Hormuz has severely impacted shipping companies from Greece, the UAE, and China, with around 670 cargo ships waiting on the western side of the strait in the past 48 hours.
- UAE-based companies own approximately 120 of these ships (18%), while Greek firms operate at least 75 vessels (12%), including around 30 oil or gas tankers, and Chinese companies have 74 vessels, 25 of which are tankers.
- Other affected countries include Japan, Hong Kong, India, Singapore, South Korea, and Vietnam, with numerous oil, gas, dry bulk, and container ships stranded due to the conflict.
- Approximately 50 Very Large Crude Carriers (VLCCs) and 11 Very Large Gas Carriers are grounded, with ownership spread across South Korea, China, Japan, and Greece.
- Despite the closure, some vessels, including those from Iran and sanctioned companies, have made crossings under a vetting system granting safe passage, while many ships remain on hold amid rising insurance costs and heightened risks.
