Commodities

Operation to Tow Stricken Tanker and Avert Spill Begins in Red Sea

ATHENS (Reuters) – Efforts are underway to tow a Greek-registered oil tanker that has been stranded in the Red Sea following an attack by Houthi militants last month, according to a shipping source.

The operation to move the 900-foot MV Sounion to safety marks the initial phase of a complex salvage effort for the vessel, which ignited after being targeted multiple times on August 21.

The next phase will involve transferring around 1 million barrels of oil from the tanker. Reports indicate that Saudi Arabia is prepared to assist with this process.

The potential for an oil spill poses a significant threat, as it could result in one of the largest maritime environmental disasters in history, particularly in a region with challenging navigational conditions. Previous attempts to salvage the ship were halted earlier this month due to safety concerns.

At least two tugboats from a Greek salvage company are currently engaged in the towing operation.

The European Union’s naval mission in the Red Sea, known as Aspides, announced that its resources are present in the region to safeguard the vessels involved in this mission, describing the salvage operation as "complex."

Aspides emphasized the importance of ensuring a secure environment for the towing process, stating that collaborative efforts from multiple public and private entities are crucial to mitigate the risk of a potential ecological catastrophe linked to the MV Sounion.

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