Indian crew safe after Iran attack on Cyprus-flagged ship; fuel supplies unaffected
NEW DELHI: An attack by Iranian forces on a Cyprus-flagged vessel carrying Indian crew members on Sunday has prompted authorities to monitor the situation closely, but officials say there is no immediate threat to India's fuel or fertiliser supplies. The incident, which occurred near the Strait of Hormuz, has raised caution among shipping lines but has not disrupted ongoing voyages.
The Directorate General of Shipping (DG Shipping) is tracking developments and may issue a fresh advisory for seafarers, sources said. Around half a dozen Indian ships are currently operating west of the Strait of Hormuz, but most are working within the region and are not slated for immediate evacuation, according to officials tracking vessel movements.
While the attack has heightened uncertainty, officials noted that there are very few India-bound foreign ships currently in the Persian Gulf. "As of now, there is no plan to send any ship from this side. The flare-up will further delay any such plan for the time being. No shipping line will take such a risk," an official tracking the situation stated.
On the energy front, a senior petroleum ministry official, speaking on condition of anonymity, confirmed that the ministry and oil refiners are closely watching the situation. However, he assured that the country has adequate stocks of crude oil, petroleum products, and gas, and that cargoes have been secured from alternative sources globally. "We are currently in a wait-and-watch situation. We hope that the movement of vessels will continue through the strait. This will not have any impact on energy supplies to India," the official said.
The Strait of Hormuz, a narrow waterway between Iran and Oman, is a critical chokepoint for global oil shipments, with about 20% of the world's petroleum transiting through it. Past tensions in the region have led to concerns over supply disruptions, but India has diversified its crude sources and built strategic reserves to mitigate risks.
The impact of the latest incident on global crude oil prices will become clearer on Monday when markets reopen. Analysts anticipate a short-term uptick but note that ample global supply and India's diversified procurement strategy should cushion any significant effect.
