Iran Reportedly Seizes Greek Billionaire’s Tanker After Strike in Strait of Hormuz

Iranian forces are reported to have seized the tanker Kavomaleas, owned by Greek shipping magnate George Prokopiou, after the vessel was struck in the Strait of Hormuz, according to multiple reports. The incident is part of a broader wave of attacks that has severely disrupted commercial traffic through one of the world's most important oil transit routes.

Ships are docked along a pier at the Khor Fakkan Container Terminal along the Gulf of Oman on July 14, 2026.

What Happened

The Financial Times reported that the Kavomaleas was hit by two projectiles off the Omani coast on Sunday night, forcing the crew to abandon ship. European Space Agency satellite imagery published Tuesday appeared to show the tanker with smoke rising from its engine while in waters controlled by Iran. Shipping analysts quoted by the FT said it was "highly likely" the vessel had been captured.

Cargo and Other Vessels

At the time of the reported strike the Kavomaleas was en route to load more than 500,000 barrels of oil. Dynacom, the vessel's owner, also said another of its tankers, the Acheloos, was struck the same night while reportedly carrying about 2,000,000 barrels of oil.

Context and Reactions

Dynacom, known for accepting charters into high-risk areas that other operators avoid, has sent at least ten tankers through the Strait since the route was effectively closed in February amid strikes linked to the U.S. and Israel. Company founder George Prokopiou has publicly compared continuing operations in contested waters to historical Greek merchants who challenged blockades and has indicated he will not easily stop transits.

"Greece has a tradition of breaking blockades since antiquity. I don't want to go into more details, but I believe the hints are enough to understand what I mean," Prokopiou said.

U.S. President Donald Trump recently warned he would target infrastructure — such as bridges or power plants — in response to attacks on ships in the Strait of Hormuz, though he had not publicly addressed the reported seizure of the Kavomaleas as of the latest reports. The Kavomaleas is registered in Malta.

Uncertainties and Wider Implications

It remained unclear whether Iranian authorities had formally acknowledged holding the Kavomaleas or what conditions they might set for releasing the crew or returning the vessel. If confirmed, this would be at least the third ship reportedly seized by Iranian forces since the start of the wider U.S.-Israeli conflict with Iran; two container ships operated by MSC were reportedly taken in April and have not been publicly released.

The Strait of Hormuz carries a large share of global oil shipments and has been effectively blocked by Iran since attacks on the country began at the end of February. Control of the waterway is a central source of ongoing tensions and has repeatedly complicated diplomatic efforts. The Pentagon is seeking an additional $67,000,000,000 in immediate funding for the conflict, and Defense Department figures estimate U.S. costs so far at about $37,500,000,000.

About George Prokopiou and Dynacom

George Prokopiou, estimated to be worth about $4.7 billion and listed as Greece's fifth-richest person, built his fortune through three shipping companies: Dynacom (founded 1991), Sea Traders (founded 1974) and Dynagas (founded 2004). Together those firms operate roughly 102 vessels, including tankers, dry-bulk carriers and liquefied natural gas ships.

Sources: Financial Times, European Space Agency imagery, company statements and public reports.