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Ketan Mittal (SEBI RA)

14th Mar · SEBI-Registered Analyst

Strait of Hormuz

Two tankers carrying liquefied petroleum gas are heading to India after crossing the Strait of Hormuz, providing some relief to acute shortages as the war in the Persian Gulf disrupts supply of the cooking fuel. The ships were granted safe transit through the strait — which has been all but closed for nearly two weeks — after a deal between New Delhi and Tehran, according to people familiar with the matter, who asked not to be identified due to the sensitivity of the matter. They did not provide details. The tankers — Shivalik and Nanda Devi — were chartered by state-run Indian Oil Corp. and should arrive in India next week, the people said. The vessels are owned by state-run Shipping Corp of India Ltd.

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