
Greek Shipowner Linked to Rare Suezmax Deal to Replace Houthi-Damaged Tanker
The Sounion, which was carrying 1 million barrels of Iraqi crude to Greece, suffered severe damage from multiple projectiles on August 21, 2024, prompting fears of an environmental disaster and forcing the vessel out of service. Salvage efforts were only permitted after international pressure led the Houthis to allow rescue operations.
According to industry sources, the replacement vessel is believed to be a modern Suezmax tanker, acquired discreetly through a private transaction. While the buyer's identity has not been officially confirmed, maritime analysts suggest links to Greek owner George Chatzis, known for his recent activity in the secondhand market.
The deal is notable given the tight availability of Suezmax tonnage and rising geopolitical risks in the region.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Yemen Online
a day ago
- Yemen Online
Yemen : Grundberg Voices Alarm Over Houthi Escalation, Urges Proactive and Pragmatic Measures
UN Special Envoy for Yemen Hans Grundberg has expressed deep concern over the Houthis' escalation against commercial shipping, and along frontlines with government forces, stressing the need for 'proactive and pragmatic' steps to pave the way for peace. Briefing the UN Security Council, proactive and pragmatic Grundberg said his recent efforts had focused on reducing tensions on the ground, establishing a pathway for talks between the parties, and boosting regional and international support for stability in Yemen. While frontlines had been relatively quiet, he noted troubling incidents, most notably a major July 25 attack on the Al-Aleb front in Saada governorate, which caused heavy casualties on both sides. He pointed to Houthi military build-ups around the port city of Hodeidah as evidence of the need for effective de-escalation and security dialogue. The UN-facilitated Military Coordination Committee, he said, remains vital in discussing ways to reduce tensions and prepare for future ceasefire negotiations. Grundberg stressed that commitment to the December 2023 roadmap requires ongoing confidence-building measures and improvements to daily life. He praised civil society efforts to open key roads, including one linking Al-Bayda and Abyan provinces, and called for the swift reopening of other vital routes to ease travel and trade. On the economy, he warned Yemen urgently needs reforms to ensure the flow of goods and services, adding that continued escalation and economic fragmentation 'benefit no one' and weigh heavily on families and the private sector. He commended the Central Bank and government in Aden for stabilizing the currency and prices of basic goods, expressing hope this marks the start of a sustainable recovery. On the other hand, the UN envoy criticized Houthi unilateral moves, including issuing new 50-rial coins and 200-rial banknotes, as deepening the fragmentation of Yemen's currency and complicating future unification talks. Dialogue, he insisted, is the only path to lasting solutions. The envoy underscored the need for full compliance with the UN arms embargo, citing the recent interception of a large weapons shipment from Iran to the Houthis. He urged the group to allow the immediate return of surviving crew members from the MV Rubymar, sunk in the Red Sea last month in attacks claimed by the Houthis. Linking the escalation to the Gaza conflict, Grundberg warned Yemen must be shielded from regional turmoil. Houthi attacks on Red Sea shipping, missile strikes on Israel, and Israeli responses have, he said, devastated port facilities under Houthi control, tripled cargo discharge times in Al-Salif, and sharply reduced vessel traffic. He also condemned the continued detention of 23 UN staff and other humanitarian and diplomatic workers, calling it 'unacceptable' and demanding their unconditional release. A sustainable solution for Yemen, he said, is 'not only possible but urgent.'


Yemen Online
3 days ago
- Yemen Online
Yemen bans use of foreign currency in local trade
Yemen's internationally-recognized government announced on Tuesday that all commercial transactions within areas under its control must be conducted using the Yemeni rial, prohibiting the use of foreign currencies for domestic trade and services. According to the state-run Saba news agency, the decision prohibits foreign currency use in transactions like tuition fees, medical expenses, rent and travel tickets, where foreign payment is not inherently required, reports citing foreign media. Ministers and provincial governors are tasked with enforcing the ban and reporting progress to the prime minister on a regular basis, Saba reported. This measure aims to strengthen the rial's sovereignty and stability. Currency traders in Aden told Xinhua that the rial surged to 1,617 per US dollar in government-controlled areas on Monday, a 40-percent recovery from nearly 2,900 weeks earlier. Yemen faces an unprecedented financial crisis after more than two years without oil revenue, which constitutes 70 percent of government income. The crisis deepened following Houthi attacks on oil export facilities in southern Yemen in late 2022, and amid the prolonged conflict since 2014. The war-torn Arab nation remains divided between the internationally-recognised government based in Aden and the Houthis that control the capital Sanaa and northern regions.


Yemen Online
03-08-2025
- Yemen Online
Political Violence Surges in Yemen as Fuel Imports to Houthi-Controlled Areas Plummet
Sana'a — Yemen is witnessing a sharp escalation in political violence amid a significant drop in fuel imports to Houthi-controlled territories, raising concerns over humanitarian fallout and regional stability. According to recent reports, the Saudi-backed Yemeni government has suspended approvals for fuel shipments destined for the port of Hudaydah, a key entry point for supplies into northern Yemen. As of late June, over 20 fuel tankers carrying approximately 500,000 metric tons of fuel were stranded in the Coalition Holding Area in the Red Sea, awaiting clearance. The move follows allegations that the Houthis misappropriated 45 billion Yemeni rials from a special account at the Central Bank's Hudaydah branch, diverting funds to support their military operations. In response, the Houthis have accused the coalition of orchestrating a blockade, using the fuel crisis as a propaganda tool to rally support and inflate prices in local markets. Meanwhile, political tensions have intensified. Houthi drone attacks on oil infrastructure in government-controlled regions, including the Dhabba Oil Terminal in Hadramawt, have disrupted exports and heightened fears of renewed conflict. These strikes, coupled with the group's refusal to renew a UN-brokered truce, signal a return to aggressive tactics aimed at pressuring the Yemeni government and its allies. Analysts warn that the dual crisis—fuel shortages and rising violence—could deepen Yemen's humanitarian catastrophe. Millions remain dependent on fuel for electricity, water access, and transportation, while political instability threatens fragile peace efforts.