The war between America, Israel and Iran has affected the global economy. Crude oil and gas transportation through the vital Strait of Hormuz has been halted for the past few days, yet two Indian-flagged Liquefied Petroleum Gas (LPG) tankers are set to pass through the Strait in the coming days. The movement of ships, which was halted for some time, may resume soon, at a time when hundreds of ships have had to rest at anchor due to rising tensions in the region.
The disruption in the Strait of Hormuz, vital to global energy supplies, came after Tehran warned that ships trying to leave the Gulf could be targeted. About 20 percent of the world’s total oil and liquefied natural gas supply passes through this narrow sea route. According to market estimates on Friday (20 March), not a single crude oil tanker passed through the strait in the last 24 hours. An empty crude oil tanker returned to Iranian waters on March 18 under US sanctions, according to Kpler data.
Meanwhile, two Indian LPG carrier ships named Pine Gas and Jag Vasantha are deployed near Sharjah, UAE. According to Marine Traffic’s ship-tracking data, both ships are showing signs of preparing to travel. According to sources related to this matter, these tankers can possibly leave on Saturday (March 21), although this has not been officially confirmed yet.
India’s Ministry of External Affairs has adopted a cautious approach and demanded safe movement of its ships in the region. “We support the safe movement of India’s fleet of 22 ships currently in the Gulf region,” spokesperson Randhir Jaiswal said on Friday. He also informed that Prime Minister Narendra Modi is in touch with global leaders regarding their safe passage. Last week, Iran had allowed two Indian-flagged LPG ships to pass through the strait, which have reached India safely.
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