Greek shipowners are increasingly having to make complex risk decisions before a vessel even leaves port, as geopolitical volatility, sanctions exposure and shifting trade patterns play a growing role in how a voyage unfolds, according to The Swedish Club.
For owners, the risk picture now stretches well beyond seaworthiness, cargo handling and onboard operations. Route selection, counterparties, regional instability and sudden changes in access to key waterways can all materially alter a vessel’s exposure, with knock-on effects for crew safety, cargo integrity, delays, pollution risk and claims handling.
Today’s geopolitical environment has brought this shift into sharp focus. The situation in the Middle East is now heavily defined by tensions around Iran, with the Strait of Hormuz subject to heightened military activity, vessel attacks and disruption to commercial traffic.
This is no longer a question of isolated regional instability. The interconnected nature of global trade means that disruption in one chokepoint, whether Hormuz, the Red Sea or Suez, quickly cascades across supply chains, freight markets and operational planning. Geopolitics is no longer a background condition; it is now a primary driver of maritime risk.
Ludvig Nyhlén, Regional Executive Director, Team Greece, The Swedish Club Greece, said: “Risk today is far less predictable than it used to be. Owners are not just managing the ship - they are constantly reassessing the environment around it. Decisions taken before a voyage, such as routing or counterparties, can now have as much impact on exposure as what happens onboard.”
Ludvig Nyhlén, Regional Executive Director, Team Greece, The Swedish Club Greece
This shift has become more pronounced in the years since the pandemic. During that period, owners were managing disruption, restricted crew changes and sustained operational pressure while still keeping vessels trading. While many of those immediate challenges have eased, they have been replaced by a more volatile and less predictable external environment, where risks can escalate rapidly and often beyond the owner’s direct control.
At the same time, underlying figures point to stronger operational performance across The Swedish Club’s Greek portfolio. Since the pandemic years, claims frequency has fallen by almost 25%, while average claims cost has improved by around 30%. On the P&I side, claims frequency has also declined, suggesting that owners are managing core operational risks more effectively, even as the external landscape becomes more difficult to navigate.
Against this backdrop, expectations of insurers are also evolving. Shipowners are no longer simply looking for a risk carrier or claims handler; they are increasingly seeking a strategic partner, one that can help them interpret a rapidly changing risk environment, support decision-making before and during a voyage, and provide guidance on emerging exposures linked to geopolitics, sanctions and trade disruption.
Thomas Nordberg, CEO of The Swedish Club, The Swedish Club
Thomas Nordberg, CEO of The Swedish Club, said: “Greek shipping has always operated in a demanding international environment, but the pressures surrounding a voyage are now broader and faster-moving than they were in the past. Our role is to help our members mitigate risk before it happens by supporting them in staying ahead of it through better insight, earlier engagement and a deeper understanding of the environment around each voyage. By contributing to that perspective, we can help our members make informed decisions before risk escalates.”
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