The government on Monday said that 10 foreign-flagged vessels carrying energy cargo and bound for India are currently stranded in the Persian Gulf, alongside 18 Indian-flagged ships operating in the region.
Responding to a query, Rajesh Sinha, Special Secretary in the Ministry of Ports, Shipping and Waterways, said that of the stranded foreign vessels, three are carrying LPG, four are loaded with crude oil, and three are transporting LNG.
He emphasised that the government’s immediate priority is to ensure safe passage for Indian-flagged ships carrying India-bound cargo through the Strait of Hormuz, a critical global energy corridor.
Providing a partial relief, Sinha noted that two LPG carriers, transporting around 94,000 tonnes of cooking gas, successfully cleared the Strait of Hormuz on Saturday. These vessels are expected to dock at Mumbai Port and New Mangalore Port within the next two days.
On the question of deploying empty Indian vessels back to the Gulf for fresh loading, Sinha said the situation has not yet stabilised enough to take that step. “We are yet to reach the stage where we start sending them back,” he stated.
He also highlighted a sharp rise in insurance costs amid the ongoing tensions. According to Sinha, the high-risk zone now extends beyond the Strait of Hormuz, impacting a wider area in the region. Insurance premiums, which stood at about 0.04% of the insured value before the conflict, have surged significantly — in one instance reaching 0.7%, with the possibility of climbing even higher.
The developments underscore growing logistical and financial pressures on India’s energy supply chain amid escalating geopolitical uncertainties in West Asia.
