Tension at its peak in the Strait of Hormuz: Speed ​​of ships slowed down due to increasing tension between US-Iran

The increasing geopolitical tension between America and Iran in West Asia has now reached the world’s most important oil route i.e. the Strait of Hormuz. According to latest reports, due to tension in the region, the movement of large cargo ships and oil tankers has almost come to a halt. The Strait of Hormuz is the world’s main sea corridor through which a large part of the global oil supply passes. The halt in movement of ships is not only hampering maritime trade, but also poses a threat of a huge surge in crude oil prices in the international markets. This situation remains extremely delicate from the point of view of maritime security and the eyes of the world are fixed on this tense development. Why is Hormuz important and why have the ships stopped? The Strait of Hormuz is a narrow sea passage connecting the Persian Gulf and the Gulf of Oman. This route is very important for global energy security, because about 20 to 30 percent of the world’s crude oil passes through this route. Due to the ongoing military activities between America and Iran and the fear of increasing military conflict, shipping companies have decided to stop or divert their ships due to security reasons. This reduction in ship movement is having a deep impact on international logistics. If this gridlock continues for longer, it will have a direct impact on countries like India which are highly dependent on this route for their energy needs. Concern for India: Impact on energy prices and supply. For India, the closure of the Strait of Hormuz or unrest there can directly affect the prices of petrol and diesel. India imports a large part of its crude oil from West Asia. Not only will oil prices increase due to disruption of sea routes, but freight transportation will also become expensive due to huge increase in ship insurance premiums. The Government of India and the Navy are keeping a close watch on this entire situation to ensure maritime security and prevent any damage to Indian merchant ships. Experts say that if this tension is not reduced soon through talks at the diplomatic level, then it can prove to be a big challenge for the global economy in the coming days.