Market
Primary security measure for Red Sea oil tankers by end of 2025?
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Resolution / Starting Odds
Increased naval escorts • 25%
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Reports from maritime security firms and international naval forces
Story
Greek-Flagged Sounion, Carrying 1 Million Barrels, Salvaged After Houthi Attack in August 2024
Jan 10, 2025, 09:41 AM
The oil tanker Sounion, a Greek-flagged vessel carrying 1 million barrels of crude oil, which was attacked by Yemen's Houthi rebels in August 2024 and had been burning for weeks in the Red Sea, has been successfully salvaged, according to the private security firm Ambrey. The vessel was initially struck with small arms fire, projectiles, and a drone boat, and later sabotaged with explosives. The salvage operation, led by Ambrey alongside a European naval force, involved extinguishing the fires, patching the cargo tanks, and offloading the remaining crude oil. The tanker was towed to Suez for the removal of its cargo, which has now been completed. The incident had threatened a massive oil spill, potentially four times the size of the Exxon Valdez disaster, but the successful salvage operation has averted this environmental catastrophe.
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