Hormuz: Good news on LPG-oil, 30 ships crossing Hormuz to India, 26 still in queue - report. Strait of Hormuz: India has experienced a severe oil and gas shortage in just a few months. But now it seems the situation will soon return to normal. As soon as the Strait of Hormuz opened, oil and gas ships departed for India.
Oil and gas tankers depart Hormuz.
Strait of Hormuz: India and its people have experienced severe oil and gas shortages over the past few months. The Strait of Hormuz was blocked due to the war between Iran and the United States that began in February, halting the movement of crude oil and gas. However, now that the ceasefire has been reached, ships carrying oil and gas have departed Hormuz for India.
There will be no oil and gas shortages.
In fact, 30 ships carrying oil and gas to India have already safely transited the Strait of Hormuz. This is good news for India. This will ensure no shortage of oil and gas in India, and it may even lead to a slight decrease in their prices. According to a report in the Times of India, 26 other ships are still waiting to transit this vital sea route.
What did the Shipping Ministry say?
Speaking to TOI, Shipping Ministry sources said that of the 30 ships that crossed the Strait of Hormuz, about half were carrying LPG and LNG. Additionally, eight ships were carrying bulk cargo, and seven were carrying crude oil. Reports indicate that 19 ships crossed the Strait between March 1 and June 17. Meanwhile, 11 more ships have safely passed through since the MoU between Iran and the US, signaling a de-escalation of tensions in the region.
There are 26 ships in the queue.
Thirty ships have already departed, while 26 ships are still stranded in the western part of the Strait of Hormuz in the Persian Gulf. These include three ships carrying energy-related goods, 10 carrying fertilizer, and 13 carrying other cargo.
Oil and gas are essential for India.
Given the shortage and rising prices of oil and gas in India, the arrival of these ships is a welcome relief. India desperately needed them at this time. Perhaps the country will now have abundant reserves of oil and gas, reducing the rising prices. This will also ease the impact of inflation on the general public.
