Listed Greek shipping companies with significant exposure to tankers and energy cargoes posted strong gains as markets recalibrated to a sudden spike in maritime security risks.
The rally followed reports that four Greek-linked tankers were struck over the weekend in two of the world’s most critical shipping corridors, including the Strait of Hormuz and the Black Sea.
This escalation marks a sharp reversal from the previous week, when oil prices and shipping equities had softened on hopes that US-Iran diplomatic talks would ease supply fears.
The immediate market response mirrored the volatility seen in late February, when initial US-Iran tensions triggered a similar repricing of route risk.
Investors are now pricing in a persistent risk premium for vessels transiting the Strait of Hormuz, with insurance costs and freight rates expected to climb.
The attacks underscore the fragility of global energy flows, as the Strait remains a chokepoint for roughly a fifth of the world’s oil supply.
Global markets are struggling to digest the conflicting signals of diplomatic engagement and kinetic military action.