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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; India anchors global capability West Asia crisis may push India’s current account deficit to 2% of GDP: Crisil Tax Dept to resume Tiger Global reassessment, says GAAR relief won’t alter SC ruling Ceasefire talks fail to restore vessel movement in Strait of Hormuz, fate of 599 ships remain inconclusive DMRC launches mid-life refurbishment of Blue Line trains to enhance safety and passenger experience Retail inflation likely rose 3.5-4% in March India-UK free trade pact may come into force from second week of May: Official 'West Asia war a good opportunity for energy reforms, lower costs for industry' India’s marine exports surge to ₹62,408 crore in 2024-25, Govt sets ₹1 lakh crore target PM Modi to inaugurate Dehradun-Delhi Expressway on April 14
India-linked LPG tanker crosses Strait of Hormuz amid cou...
2026-05-03 · via Economy News, Latest Economic News Today | The HinduBusinessLine
India has managed to move eight LPG vessels through Hormuz during the conflict after bilateral negotiations with Tehran, and has been working on other exits.

India has managed to move eight LPG vessels through Hormuz during the conflict after bilateral negotiations with Tehran, and has been working on other exits. | Photo Credit: Dado Ruvic

An India-linked tanker laden with liquefied petroleum gas has managed to transit the Strait of Hormuz, a rare crossing that underscores the country’s struggle to alleviate a historic energy crisis.

The Marshall Islands-flagged Sarv Shakti — laden with around 45,000 tons of LPG, commonly used as cooking fuel — appeared to move into the Gulf of Oman after sailing past Iran’s Larak and Qeshm islands on Saturday, according to ship-tracking data.

The very large gas carrier has previously made runs between the Persian Gulf and Indian ports and is broadcasting that it’s heading to the country and has Indian crew, a safety measure frequently adopted by ships since the Iran war began.

State-run Indian Oil Corp was listed as the buyer of the cargo, according to a shipping document seen by Bloomberg. IOC didn’t immediately respond to an email seeking comment.

Hormuz chaos

Sarv Shakti’s journey marks the first observed passage by an India-linked tanker since a weeks-old US blockade of ships tied to Iran began, pushing transits through Hormuz back down to almost zero. It’s one of the largest carriers to make the outbound crossing since a chaotic weekend last month, when the strait was briefly opened and then rapidly closed.

As the world’s third-largest oil importer and the second-biggest consumer of LPG, India has scrambled to fill the supply gap left by Middle East producers. Acute shortages of the cooking fuel have triggered panic, queues and pared-down menus.

New Delhi has focused on the safe passage of LPG carriers since the US and Israel began strikes on Iran at the end of February, even ordering its own ports to prioritize these tankers for berthing and discharging, while cranking up domestic production.

Momentum was disrupted, however, by the April weekend when Iran initially said the thoroughfare was restored, only for its military to shoot at ships attempting to cross, forcing many to U-turn. One India-linked vessel, Aframax-sized crude tanker Desh Garima slipped through, though only by switching off its transponder signals. 

Since then, traffic has returned to a near-standstill in Hormuz.

Finding ways

India has managed to move eight LPG vessels through Hormuz during the conflict after bilateral negotiations with Tehran, and has been working on other exits.

India has also raised domestic production of LPG by 60 per cent to 54,000 tons in order to cope. Its consumption has dropped by 10,000 tons to 80,000 tons daily, Oil Minister Hardeep Puri said Friday.

Sarv Shakti entered the Persian Gulf in early February. It received its cargo via a ship-to-ship transfer off Dubai, but Bloomberg News could not immediately identify the exact origin of the cargo.

A full transit of Hormuz can take about 10 to 14 hours. Electronic interference in the region can falsify the apparent position of a ship. Some vessels may also spoof, or go dark, during transits, in order to hide their tracks.

Dubai-based Foresight Group Services Ltd is listed as the carrier’s manager, with its owner Zhe Yin Shan Zhou No. 4 Tianjin that shares the same address, on database Equasis. Foresight Group didn’t immediately respond to a query submitted via its website.

More stories like this are available on bloomberg.com

Published on May 2, 2026