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Under a proposal being reviewed by the finance ministry, domestic insurers could be enabled to provide cover for vessels navigating high-risk areas. (AI image) Middle East conflict impact on India: The government is looking at the creation of a specialised fund to assist insurers offering war-risk coverage for ships operating on routes to and from…
President Donald Trump’s recent appeal to Asian allies to help secure the Strait of Hormuz amid escalating tensions in the war against Iran, bluntly brought to focus their outsized reliance: “Countries that receive oil through the Strait of Hormuz must take care of that passage — China, Japan, South Korea should come and aid us.“Days…
NEW DELHI: India is deploying additional warships in the Arabian Sea and the Gulf of Oman to ensure safe passage for its fuel and LPG carrying vessels as tensions escalate around the Strait of Hormuz, Bloomberg reported citing sources.The Indian Navy has positioned more than half a dozen warships, including logistics vessels, as a precautionary…
The United States carried out a high-profile strike on Iranian missile sites near the strategic Strait of Hormuz on Tuesday, deploying some of the most powerful conventional bombs in its arsenal. The attack targeted underground facilities housing Iranian anti-ship cruise missiles, which US Central Command said posed a significant threat to international shipping in the…
Nanda Devi arrived at Gujarat’s Vadinar port on Tuesday NEW DELHI: Around 3 lakh tonnes of LPG loaded in six Indian-flagged ships is currently stranded in the Strait of Hormuz, the shipping ministry said on Tuesday. A second Indian ship, Nanda Devi, carrying 46,500 tonnes of LPG reached the Vadinar facility of Kandla Port on…
The Middle East conflict has entered its third week and has reshaped how the globe fuels its oil pipelines. Iran’s disruption of the Strait of Hormuz has left many producers scrambling to find alternative ways to move crude to global markets. With tanker traffic through the strait nearly halted, attention has shifted to the Red…
US President Donald Trump expressed frustration on Tuesday after several Western allies, including Germany, Italy and Spain, declined his request to send warships to escort commercial vessels through the Strait of Hormuz.Several key US partners cited domestic legal limits for refusing the request. German chancellor Friedrich Merz said Berlin lacked the mandate from the United…
President Donald Trump recently urged nations worldwide to dispatch warships to seize control of the Strait of Hormuz, declaring it a collective duty to break Iran’s blockade amid soaring global oil prices. Speaking on March 13, Trump called for contributions from allies like the UK, France, Japan, and even China to bolster his “beautiful armada”,…
Retail diesel prices in the United States soared past $5 a gallon, reaching a milestone seen only once before, according to GasBuddy, the fuel markets tracker. Economists warn that the surge could slow global economic activity. Diesel is essential for freight and manufacturing, and rising fuel costs are likely to push up the price of…
NEW DELHI: As the world grapples with the Strait of Hormuz crisis, Congress leader Jairam Ramesh on Tuesday drew parallels with the 1956 Suez Canal crisis, highlighting how India’s then-UN envoy, VK Krishna Menon, played a central role in the diplomatic efforts to resolve it.Menon later served as India’s defence minister but resigned after the…
