MUMBAI: Even as tensions continue to disrupt shipping lanes in the Persian Gulf, two crude oil tankers have safely crossed the Strait of Hormuz and are heading towards Indian ports, offering some relief in energy supplies.The Liberian-flagged tanker MT Smyrni is expected to arrive at the Mumbai port on Saturday carrying around 1.4 lakh metric tonnes of crude oil. Another ship, the Indian oil tanker Jag Prakash, carrying around 50,000 tonnes of crude oil, has also crossed the strait. According to the information, the Jag Prakash is likely to be an Africa-bound ship and there is no confirmation yet if it will be diverted to India at an additional premium.
Shipping sources said the movement of these vessels is significant as at least 37 Indian ships remain affected in the conflict-affected region.Industry analysts said India could see some short-term relief in crude supplies as several tankers carrying Russian oil – including vessels from the so-called “shadow” or “ghost” fleets – are also changing course mid-voyage and heading towards Indian ports after the United States announced a waiver allowing oil imports from Russia to resume.Shadow fleets, also known as dark fleets, comprise tankers that operate outside the conventional regulatory framework governing global maritime traffic and are often used to transport sanctioned oil cargoes.Vessel tracking data indicates that at least four tankers have already diverted to India. These include an unauthorized very large crude oil carrier that is part of the shadow fleet. Two of these vessels were originally headed to China after loading crude oil from Russia’s Far East, but changed course mid-voyage, the sources said.Another tanker, the Suezmax Indri, with a capacity of 80,000 metric tons, was initially sailing toward Singapore before abruptly changing course on March 4. The ship unloaded crude oil from Russia’s Baltic region at Sikka port in Gujarat on March 9.International shipping data suggests that around 60 million barrels of Russian crude oil are currently in the water, having been loaded before March 6 – the date the exemption was announced – and are within a typical 30-day shipping distance from India. Of these, around 24 million barrels are transported in non-sanctioned vessels, while the remaining 36 million barrels are transported in sanctioned tankers.Despite the developments, maritime operations in the Gulf remain tense. Shipping line officials said export and import movements remain under restrictions, with cargo being diverted via road transport to and from ports closer to points of origin or destination in the Gulf.Several ships have also been diverted around the Cape of Good Hope to avoid high-risk areas, which has significantly increased operating costs.Port authorities said the Jawaharlal Nehru Port Authority has so far managed cargo buildup efficiently by rationalizing refrigerated storage and transportation systems.Sunil Vaswani, executive director of the Container Shipping Line Association, said the situation has become more challenging for shipping companies. “We had hoped this would not become a long-running affair, but there is still no respite. Some ships are stuck on both sides of the Strait of Hormuz – some in and some out – while services to the Persian Gulf have been suspended,” he said.Vaswani added that although shipping lines have enough vessels and containers, tonnage and containers stuck in the region are increasing costs and limiting inventory utilization.“In fact, freight rates over the past five years have fallen by 70 to 80%. However, surcharges have increased due to higher insurance premiums, vessel waiting costs and other operating expenses, including crew safety. Overall, the cost to global trade has increased,” he said.