7th lpg tanker comes to india soon
LPG Tanker : Amid the Middle East crisis, the seventh Indian-flagged LPG tanker Green Sanvi has successfully crossed the Strait of Hormuz. Since the start of the war in West Asia, six LPG carriers have crossed the Strait of Hormuz and reached Indian ports. Now, the seventh tanker has also crossed the Strait of Hormuz and is heading towards India.
Green Sanveer has loaded 44,000 metric tonnes of LPG. Its arrival will help alleviate the LPG shortage. However, 17 Indian ships are still stranded west of Hormuz. These include two LPG-laden ships, Green Asha and Jag Vikram.
According to experts, two other LPG-laden ships, Green Asha and Jag Vikram, will soon leave Hormuz and head towards India. Experts also reported that three Indian LPG-laden ships are currently stranded northeast of Abu Musa Island in the Persian Gulf. They are awaiting orders to leave the Strait of Hormuz, following Indian Navy advice.
Meanwhile, a foreign ship carrying oil from Iran to India has suddenly changed its destination mid-way through its journey. It is now heading to China. Sumit Ritolia, principal analyst at global analytics firm Kepler, said such destination changes are not new for Iranian crude. It reflects the increased sensitivity of trade flows to economic conditions and counterparty risks. Experts said that payment is believed to be the main reason behind the sudden diversion of the crude oil-laden ship to China. The changes appear to be payment-related, with sellers tightening their terms. This includes shifting the previous 30-60 day credit period to an advance or near-term solution.
If the payment issue is resolved, the cargo could still reach an Indian refinery. The Iranian ship was supposed to reach Gujarat, but is now heading to Dongying. This shows that commercial terms are becoming as important as logistics in determining the flow of Iranian crude oil to countries other than China. According to marine traffic data, the British-flagged crude oil tanker Ping Shun had earlier indicated that it was heading to the Deendayal port in Kandla, Gujarat for the Vadinar facility.
The tanker carrying 600,000 barrels of crude oil is currently reporting Dongying, China as its destination. It is not yet clear whether the final destination of the ship carrying this crude oil will be China. This is because the destination currently displayed on the automatic identification transponder is final and there is no indication that it will change during the voyage. However, it could change further. If the tanker had indeed reached Vadinar, it would have been the first crude oil shipment from Iran to India in six years.
