🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

Operation to tow stricken tanker and avert spill starts in Red Sea - shipping source

Published 15/09/2024, 05:10 am
© Reuters. FILE PHOTO: Flames and smoke rise from the Greek-flagged oil tanker Sounion, which has been on fire since August 23, after an attack by Houthi militants, on the Red Sea, September 14, 2024 in this handout image. EUNAVFOR ASPIDES/Handout via REUTERS/File P
CL
-

ATHENS (Reuters) - The operation has started to tow a Greek-registered oil tanker stranded in the Red Sea after an attack by Houthi militants last month, a shipping source told Reuters on Saturday.

Towing the 900-foot (274.2-metre) MV Sounion to safety is the first step in a risky operation to salvage the vessel that caught fire after it was repeatedly attacked on Aug. 21.

The second step is the transfer of its cargo of about 1 million barrels of crude oil. Saudi Arabia, a key player in the region, will offer its assistance with that project, sources have said.

Any oil spill could be one of the largest from a ship, risking catastrophic environmental damage in an area that is particularly dangerous to enter. An initial effort to salvage the vessel was paused earlier this month due to safety reasons.

At least two tugboats owned by a Greek-based salvage company are involved in the latest towing attempt, sources told Reuters on Thursday.

Aspides, the European Union's naval mission in the Red Sea, said on Saturday that its assets were in the area to protect the vessels involved in the operation. It described the operation as a "complex endeavour".

© Reuters. FILE PHOTO: Flames and smoke rise from the Greek-flagged oil tanker Sounion, which has been on fire since August 23, after an attack by Houthi militants, on the Red Sea, September 14, 2024 in this handout image. EUNAVFOR ASPIDES/Handout via REUTERS/File Photo

"Creating a secure environment is necessary for the tugboats to conduct the towing operation," Aspides said in a statement on Facebook (NASDAQ:META).

"The salvage operation of the MV Sounion is essential in order to avert a potential environmental disaster in the region. To achieve this, several public and private actors are working together."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.