Tsakos Warns Shipping Risks Mount for Seafarers
Tsakos Energy Navigation's founder told a New York maritime conference that 30 seafarers have been killed in the region this year.
Updated on Nov. 2, 2026 in Oil and Gas
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Nikolas Tsakos, founder and chief executive of Tsakos Energy Navigation, addressed the NAMEPA annual conference in New York on October 29, 2026, under the theme "Balancing Commerce & Conservation." He said 30 seafarers have been killed in the region this year, a toll that doubles when deaths in the Black Sea, Baltic and Mediterranean are included.
Why it matters
Shipping companies now spend more time mapping safe zones away from conflict than on commercial and operational decisions, with instability from several conflicts disrupting the flow of oil and gas by sea. Because roughly 20% of global energy needs were blocked during the disruptions, the risks affect energy supply chains far beyond the vessels themselves.
TEN reports having safely transported 550 million barrels of oil and gas equivalent so far this year, while around 11,000 seafarers were stranded in the Strait of Hormuz for an extended period. The source does not indicate how these figures compare with prior-year volumes or whether the stranding figure has been updated.
The players
Nikolas Tsakos
Founder and chief executive of Tsakos Energy Navigation, a Greek shipping company that transports oil and gas by sea, who used the NAMEPA platform to highlight risks to seafarers.
Tsakos Energy Navigation (TEN)
A shipping company that operates tankers carrying oil and gas, which reported moving 550 million barrels of oil and gas equivalent this year.
NAMEPA
The North American Marine Environment Protection Association, which hosted its annual conference in New York under the theme "Balancing Commerce & Conservation."
The details
Tsakos told the audience that the Houthis began attacking ships wherever they could after the conflict in Ukraine escalated, and that the tragic events of October 7 and the later war in Iran added further instability. TEN transports oil and gas by sea on its own vessels, and the company's experience reflects wider industry strain as operators reroute around danger zones.
Timeline
February 2022: Russia invaded Ukraine, and the TD6 index spiked within a week.
October 7 (2023): Tragic events added further instability to the shipping region.
October 29, 2026: Tsakos addressed the NAMEPA annual conference in New York.
Market Landscape
The shipping disruption traces back to the TD6 tanker route index, which jumped from minus $126 to $200,000 per day within a week of Russia's invasion of Ukraine. Tsakos's remarks indicate that the risk pattern has persisted, with operators now rerouting around conflict zones as a routine part of commercial planning.
Tanker operators are spending more time on route planning around conflict zones than on routine commercial scheduling, which can affect when cargoes arrive. Energy buyers relying on sea-borne oil and gas may see that disruption reflected in delivery timing even when their own supply contracts are unchanged.
The takeaway
Conflict risk is now a routine input for shipping planning, and the human cost in seafarer lives sits alongside the energy-supply effects. Readers following energy markets should watch how operators adjust routes as the risk picture evolves.
Further reading
For more on how conflict is reshaping tanker routes and energy transport, see Oil and Gas.
Source note: This article includes information reported by Η Ναυτεμπορική.
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