As the war between US-Israel and Iran entered its sixth day on Thursday, at least 37 Indian-flagged vessels are stranded in the Strait of Hormuz, and shipping assets worth over Rs 100 billion are exposed to security risks, according to Indian shipowners.FOLLOW LIVE UPDATES
The Indian National Shipowners Association (INSA) has written a letter to the Ministry of Ports, Shipping and Waterways, seeking urgent government intervention as the vessels are caught in a “blocked style closure", reportedKhaleej Times.It said several tankers are loaded with crude oil or liquefied petroleum gas (LPG) headed to Indian ports.
The association said about 85% of India’s LPG imports are through the strait and any disruption could create problems in India. The INSA also sought clarification from the government about reports claiming Chinese and Iranian ships still pass through the Strait of Hormuz, which has caused confusion among Indian ship operators
INSA also said three Indian tankers have been attacked since the conflict began on February 28. One Indian-flagged vessel narrowly escaped a missile attack, which landed just a mile away. INSA CEO Anil Devli also informed that about 400 Indians are also aboard oil tankers and gas carriers in the Strait of Hormuz.
This came as the Strait of Hormuz remained paralysed on Thursday after Iran said it would take control of the vital trade route in retaliation for the US-Israeli strikes on February 28. This move choked off vital Middle East oil and gas flows, and caused a spike in oil prices.
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The Strait of Hormuz is the narrow mouth of the Persian Gulf through which about a fifth of the world’s oil passes. Tankers transiting the strait, bordered in the north by Iran, carry oil and gas from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the UAE, and Iran. Most of that oil goes to Asia.
The war has impacted agricultural supply to over 50 million people in the Gulf region, which imports over 90% of its food. US President Donald Trump on Tuesday said he ordered the US development finance arm to provide political risk insurance for tankers carrying oil and other goods through the Gulf “at a very reasonable price."
About 3,200 ships, about 4% of global ship tonnage, are idle inside the Persian Gulf, according to estimates by Clarksons Research, which tracks shipping data. Yet that includes about 1,231 ships that likely only operate within the Gulf.
Source: World News in news18.com, World Latest News, World News
