Industry Odisha Bureau, Jul 10: Global maritime trade along the critical chokepoint Strait of Hormuz has reportedly come to a grinding halt once again as military flare-up between US forces and Iran’s IRGC has reportedly renewed recently owing to the fragile US-Iran peace deal inked in June.
Such a grim scenario has come as a bolt from the blue not only for India, but also for the entire global maritime trade since cargo bookings had reportedly resumed across the Persian Gulf following the US-Iran peace deal on June 17-18 after the months-long escalations that had broken out since February 28.
Media reports quoting sources said that, “Shipping lines have put new bookings on hold, while seafarers are on tenterhooks. Also, several Indian-flagged cargo vessels have been stuck amid the troubled Hormuz waters.”
Meanwhile, the Indian Ministry of External Affairs (MEA) in a statement on July 8 reportedly said, “India is deeply concerned over the recent attacks and escalation of tensions in West Asia, which have followed fresh targeting of commercial shipping transiting international waterways in the region. These developments risk undermining regional peace, security and stability,”
Media reports quoting sources also said that, “The Government of India has woken up to the emergent occasion, and has simultaneously stepped-up concerted efforts to ensure safety of Indian seafarers and secure India-bound cargoes.”
Even though India has reportedly “diversified energy imports now (about 20-25% crude imports from the Persian Gulf) due to the bitter experience suffered during the initial period of West Asia conflict”, the region still remains a “key source for importing crude oil, LPG, LNG, petrochemicals and fertilizers.”
