Iran Permits Two Indian LPG Vessels Through Hormuz Strait: Reports

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Iran allows Indian LPG carriers through Strait of Hormuz despite tensions

Tanker Rates Surge | Very large crude carriers or VLCC saw rates surge even after an already sharp increase in the first two months of the year so far. As per the Baltic exchange, the time charter equivalent, the essential daily revenue for VLCCs surged to $1,77,469 last week from $37,869 at the start of the year. “Even without significant further disruptions in the Strait, precautionary restocking and redirection can raise already elevated freight rates further,” Goldman Sachs wrote in a note to clients on Sunday.

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CNBC TV18•13-03-2026, 22:08

Iran allows Indian LPG carriers through Strait of Hormuz despite tensions

•Iran permitted two Indian-flagged LPG carriers to sail through the Strait of Hormuz, potentially easing India's cooking gas crisis.
•A Saudi crude tanker is also expected to arrive in India via the strait around March 1, according to sources.
•This move comes despite Iran's earlier threats to close the critical waterway amid escalating West Asia tensions involving Iran, Israel, and the US.
•Iran's new supreme leader, Mojtaba Khamenei, had previously vowed to keep the strait closed.
•The Strait of Hormuz is vital for India's energy imports, handling nearly half of its crude oil and significant LPG/LNG cargoes, impacting 33 crore Indian homes.

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