At today’s (8 July 2026) Economist summit in Athens, the prospect of maritime tolls for vessels transiting the Strait of Hormuz took center stage in a high-level discussion on global trade and geopolitical risk. Vangelis Marinakis, founder and chairman of Capital Maritime & Trading Corp., and Angeliki Frangou, chairman and CEO of Navios Maritime Partners, addressed how shipping is navigating persistent instability — particularly amid escalating tensions involving Iran.
A Proposal for Strategic Maritime Tolls
Marinakis outlined a formal proposal he first presented during the Posidonia maritime exhibition in Athens one month earlier — and subsequently shared with both the Greek government and former U.S. President Donald Trump. He described it as a structured, official initiative aimed at rethinking how the global shipping industry shoulders security-related costs in volatile regions.
‘Right now — and for years — we’re paying substantial sums not because war has broken out, but because of the *risk* of conflict,’ Marinakis explained from the Economist stage. ‘Current war-risk insurance premiums range between $1 million and $3 million per vessel, depending on ship value and cargo — a massive operational cost.’
Three Key Rationales
He cited three main arguments in favor of implementing standardized transit tolls:
First, tolls would replace unpredictable, market-driven war-risk insurance — effectively decoupling shipping costs from geopolitical volatility.
Second, without financial consequences tied to disruptions, prolonged regional conflicts can persist without meaningful economic pressure on decision-makers — delaying diplomatic progress on nuclear issues, governance, democracy, or freedom of navigation.
Third, economies are already straining — from inflation and energy price spikes in Europe to supply chain ripple effects felt in supermarkets and daily life. ‘We’ve been living in this reality for over five months,’ Marinakis said. ‘Multiple active conflicts demand coordinated, sustainable solutions.’
Under his proposal, toll revenue would be shared: part allocated to Arab states already bearing the brunt of regional instability, and part directed to the United States to offset the enormous costs of maintaining naval presence and conducting military operations in the region.
‘It’s a mutually beneficial framework,’ Marinakis concluded. ‘All parties stand to gain — stability, predictability, and shared responsibility.’