Why Iran's green signal to Indian LPG tankers is crucial
In a rare move, Iran let two Indian LPG tankers, Shivalik and Nanda Devi, sail through the heavily guarded Strait of Hormuz in mid-March — Shivalik had crossed by March 13, while Nanda Devi cleared the strait shortly afterward.
This area has been mostly blocked off since tensions flared after a U.S.-Israel strike on Iran, causing major traffic jams for global oil and gas shipments (think: one out of every five barrels passes through here).
Smooth passage could be a lifeline for India
These ships, owned by India's state-run Shipping Corporation, left Qatar in late February and are now almost home, expected at Mumbai or Kandla ports within days.
With India facing its toughest gas shortage in decades, this smooth passage could be a lifeline.
Plus, if it works for these tankers, it might open the door for other stranded ships stuck in the world's busiest energy corridor.