Greek shipping interests have reportedly entered a rare secondhand sale-and-purchase (S&P) deal to acquire a replacement vessel, signaling a swift response to operational disruptions in the Red Sea.

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.