India and New Zealand Conclude Historic Free Trade Agreement; Markets and Industry React

India has conveyed that it is not in favour of imposing any tolls on ships passing through the strategically crucial Strait of Hormuz, according to government sources. The development comes amid ongoing discussions following a temporary ceasefire in the West Asia conflict, under which maritime traffic through the strait has resumed in a limited capacity. The ceasefire proposal reportedly includes provisions allowing Iran and Oman to levy fees on vessels transiting the route, with the funds potentially being used for post-war reconstruction. India, however, has taken a clear stand against such charges, emphasizing that cargo ships should be allowed to pass without any financial burden. The position aligns with long-standing global practice, which treats the Strait of Hormuz as an international waterway with free navigation rights. The Strait of Hormuz remains one of the world’s most vital shipping corridors, handling nearly one-fifth of global crude oil and liquefied natural gas trade during normal times. Any move to impose tolls is expected to have significant implications for global energy markets and shipping costs. Iran’s increasing control over the strait during the recent conflict has added complexity to the situation. While the ceasefire has reopened the route, questions remain over how transit will be regulated and whether proposed toll mechanisms will gain wider acceptance. India’s opposition reflects concerns over both economic impact and the precedent such charges could set for international maritime routes. © Images used for illustrative purposes only. Copyrights belong to their respective owners.

In a significant development amid the ongoing West Asia conflict, India-flagged LPG tanker Green Asha has successfully navigated the Strait of Hormuz, marking a crucial step in restoring disrupted energy supply lines. According to shipping data, the vessel was carrying approximately 20,000 tonnes of LPG and became the eighth India-flagged tanker to transit the strait since the conflict began. The crossing comes at a time when maritime traffic through the Hormuz corridor has been severely restricted due to ongoing military tensions. The strait, which handles a significant share of global oil and gas shipments, has seen a drastic reduction in vessel movement, impacting energy-importing nations like India. Earlier, several Indian tankers were stranded in the region, raising concerns over LPG shortages and supply disruptions across the country. However, recent developments indicate that Iran has allowed passage to certain ”friendly” nations’ vessels under regulated conditions, enabling gradual movement of ships. Experts say the successful transit of vessels like Green Asha is critical for stabilising India’s LPG supply, especially as the country remains heavily dependent on imports from the Gulf. Despite the breakthrough, a significant number of Indian vessels are still waiting in the Persian Gulf for clearance, and the situation remains volatile. Authorities continue to monitor developments closely, with naval support and diplomatic coordination playing key roles in ensuring safe passage. The development offers temporary relief, but highlights the ongoing vulnerability of global energy supply chains amid geopolitical conflict. © Images used for illustrative purposes only. Copyrights belong to their respective owners.

At least 18 Indian-flagged ships carrying crude oil, LPG and LNG are currently stranded near the Strait of Hormuz due to the ongoing conflict in West Asia, raising concerns over India’s energy supply chain. Government officials said the vessels are anchored to the west of the strait, which has been severely disrupted by military tensions and security risks. These ships include crude oil tankers, LPG carriers and LNG vessels, with around 485 Indian crew members onboard, all reported safe. In addition to these, at least 10 foreign-flagged ships carrying energy cargo meant for India are also stuck in the Persian Gulf, further compounding supply concerns. The Strait of Hormuz is one of the world’s most critical energy routes, accounting for a major share of India’s imports, including nearly 40% of crude oil and 90% of LPG supplies. Officials confirmed that eight Indian ships have managed to cross the strait safely in recent days, but many remain stranded due to restricted movement and security threats in the region. The government stated that ensuring safe passage of Indian vessels remains a top priority, as disruptions in the region continue to impact global trade and energy markets. © Images used for illustrative purposes only. Copyrights belong to their respective owners.