India-flagged LPG tanker Jag Vikram successfully transits Strait of Hormuz after US-Iran ceasefire
India-flagged LPG tanker Jag Vikram crosses Hormuz after US-Iran ceasefire
Business Standard
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The India-flagged LPG tanker Jag Vikram has successfully crossed the Strait of Hormuz, marking the first such transit since the recent US-Iran ceasefire. Owned by Great Eastern Shipping Company, the vessel carries approximately 20,000 tonnes of LPG, highlighting India's reliance on Gulf energy supplies amidst ongoing regional tensions.
- 01Jag Vikram is the first Indian vessel to transit the Strait of Hormuz since the US-Iran ceasefire.
- 02The tanker is carrying about 20,000 tonnes of liquefied petroleum gas (LPG).
- 03India relies on Gulf countries for over 60% of its LPG needs.
- 04The US and Iran have agreed to a conditional two-week ceasefire allowing shipping through the Strait.
- 05India has restored about 70% of its LPG supply to commercial users after earlier disruptions.
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The India-flagged liquefied petroleum gas (LPG) tanker Jag Vikram has successfully crossed the Strait of Hormuz, marking a significant event as it is the first Indian vessel to do so following a temporary two-week ceasefire between the United States and Iran. The tanker, owned by Great Eastern Shipping Company based in Mumbai, is estimated to be carrying around 20,000 tonnes of LPG. This transit is crucial as India is heavily dependent on imports for its energy needs, sourcing approximately 60% of its LPG from Gulf countries. The ceasefire agreement has allowed for the reopening of the Strait, which is a vital global energy corridor. Prior to this, India had curtailed LPG supplies to commercial users due to disruptions in Gulf energy flows, but has since managed to restore about 70% of pre-crisis volumes. The situation remains critical as many other vessels, including foreign-flagged ships, are still stranded in the region due to the ongoing conflict.
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The successful transit of Jag Vikram is crucial for maintaining India's LPG supply, which is vital for commercial establishments and households. This could stabilize energy prices and availability in India.
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