Strait of Hormuz tensions escalate: Indian seafarers face safety, spill risks amid oil scramble

As India imports over 40% of its crude via the Strait of Hormuz, rising geopolitical tensions have triggered a rush of 50 tankers evacuating the area. Experts warn this heightens physical dangers for Indian crews and environmental risks from potential oil spills, underscoring the fragile balance of global energy security.

Sources:
Deccan HeraldThehinduM+3
Updated 31m ago
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Sources: Deccan HeraldThehindubusinesslineThehindu+1
Tensions in the Strait of Hormuz have escalated sharply following Israel's pre-emptive strikes on Iranian military and nuclear sites, raising fears of a potential closure of this critical oil chokepoint.

The Strait handles around 20 million barrels of crude oil per day, nearly one-fifth of global consumption, with India relying on it for about 40% of its crude oil imports and over half its liquefied natural gas.

"Currently, there are close to 50 large oil tankers scrambling to leave the Strait of Hormuz," highlighting the urgency and risk in the region.

Indian seafarers face heightened risks amid this turmoil. J Krishnan of S Natesa Iyer Logistics LLP warned of physical safety concerns for crew, asset safety, and potential environmental damage from oil spills if vessels are targeted or caught in conflict.

India has diversified its oil import sources, increasing Russian crude purchases to nearly 40-44% of its total imports, partly to reduce reliance on the Hormuz route. However, about 2 million barrels per day of crude still transit the Strait, making disruption a serious concern.

Analysts predict oil prices could spike to USD 80 per barrel or higher, with some Iranian hardliners warning of prices soaring to USD 400 per barrel if the Strait closes. The International Energy Agency has stressed that any disruption would have significant global market consequences.

Economists warn that a prolonged shutdown could slash global GDP by 1-2%, risking a worldwide recession. Meanwhile, freight rates, insurance costs, and port activity in Oman are expected to surge.

Union Minister Hardeep Singh Puri noted that of India's daily consumption of 5.5 million barrels, 1.5 million barrels pass through the Strait, underscoring the strategic importance and vulnerability of this route.

The unfolding crisis highlights the precarious balance of energy security, geopolitical tensions, and the safety of Indian maritime personnel amid a volatile oil scramble.
Sources: Deccan HeraldThehindubusinessline
Tensions in the Strait of Hormuz have escalated amid Israel's strikes on Iran, threatening closure of the vital oil route. India, reliant on the Strait for 40% of its crude imports, faces risks to seafarer safety and potential oil spills as global oil prices surge and tanker traffic intensifies.
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Key Facts
  • India imports about 40% of its oil and about half of its gas through the narrow Strait of Hormuz, a critical chokepoint for global oil flow.Deccan Herald
  • India's imports of Russian oil surged from less than 1% to 40-44% of total crude imports since the Ukraine invasion, driven by significant discounts due to Western sanctions.Deccan Herald
  • India's Russian oil imports rose from 1.96 million barrels per day in May to 2-2.2 million barrels per day in June, the highest in two years and exceeding volumes from Middle Eastern suppliers.ThehinduDeccan Herald
  • Iranian hardliners have threatened to close the Strait of Hormuz, escalating tensions with warnings that oil prices could spike to USD 400 per barrel in a full blockade scenario.ThehinduDeccan Herald
  • The International Energy Agency (IEA) warns that any disruption to flows through the Strait would have significant consequences for world oil markets and economies.MBusinesstodayThehindubusinessline
  • Currently, around 50 large oil tankers are scrambling to leave the Strait of Hormuz amid rising geopolitical tensions.Thehindubusinessline
  • Union Minister Hardeep Singh Puri stated that of Indias 5.5 million barrels daily oil consumption, 1.5 million barrels pass through the Strait, highlighting India's vulnerability.ThehinduM
  • India has diversified its oil sources including Russia, the US, and Brazil to mitigate risks from potential Strait disruptions.MDeccan Herald
  • Experts predict oil prices could surge to USD 80-150 per barrel due to the tensions, with freight rates and insurance costs rising sharply.MBusinesstodayThehindubusinessline
  • Logistics experts warn of physical safety risks for Indian seafarers and environmental hazards from possible oil spills in the Strait if vessels are impacted.Thehindubusinessline
India imports about 40 per cent of all its oil and about half of its gas through the narrow Strait.
Deccan Herald
Deccan Herald
Iranian hardliners have threatened closure, and state media have warned of oil spiking to USD 400 per barrel.
Thehindu
Thehindu
Having diversified its sources of imports, New Delhi, however, is unlikely to lose sleep even if the Strait is shut down, as alternative sources - from Russia to the US and Brazil - are readily available to fill any void, industry officials and analysts said.
M
M
India, which imports 90% of its crude — with over 40% coming through Hormuz — is especially vulnerable.
Businesstoday
Businesstoday
This Strait is one of the world’s most critical chokepoints, through which a fifth of global oil and gas supply flows. From the Indian perspective, about 2 million barrels per day (bpd) of crude transits through this narrow waterway. Essentially this is close to 40% of the total 5.5 million barrels of crude imported every day.
Financialexpress
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On the impact for Indian seafarers, J Krishnan of S Natesa Iyer Logistics LLP, a leading freight forwarder, said that the disruption in the Strait will have issues like physical safety of crew, assets safety and possible environmental impact of oil spill if any of the vessels takes a hit.
Thehindubusinessline
Thehindubusinessline
Key Stats at a Glance
India's oil import dependency via Strait of Hormuz
40 per cent
Deccan Herald
Number of oil tankers scrambling to leave Strait of Hormuz
close to 50
Thehindubusinessline
Potential oil price spike in blockade scenario
USD 400 per barrel
Thehindu
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