The Marshall Islands-flagged Symi, an LPG tanker carrying approximately 20,000 tons of liquid propane and butane, has docked safely at Deendayal Port in Kandla. The ship transited the Strait of Hormuz on May 13, marking another important movement of energy supplies through the key sea route amid the ongoing Middle East crisis.
The ship has a crew of 21 people, including eight Ukrainians and 13 Filipinos.Simi was the 11th LPG tanker to transit the strait in the current monitoring operations. According to officials, these safe passages are made possible through close coordination between the Directorate General of Shipping and the Ministries of Foreign Affairs, Defence, Oil and Natural Gas.
These shipments come at a time when global energy supplies are under pressure due to the ongoing conflict in the Middle East.
India’s crude oil reserves have shrunk sharply over the past months, as the Strait of Hormuz has continued to see disruptions for more than 75 days now, with inventories down nearly 15%.Data from commodity analytics firm Kpler estimates that India’s total crude stockpiles, including strategic oil reserves, refinery holdings and commercial storage, but excluding pipeline stocks, fell to 91 million barrels from the 107 million barrels recorded at the end of February, when the conflict began.
Despite the decline in imports, Indian refiners have so far maintained steady processing activity and continued refining operations without significant cuts. But analysts believe that if the disruption to crude oil supplies continues over a longer period, refiners may have no choice but to reduce refinery operations or reduce crude processing levels.Analysts say this ongoing pressure on supplies may also be one of the reasons behind Prime Minister Narendra Modi’s recent appeal to citizens to conserve fuel.At current consumption levels of about 5 million barrels per day, India’s available crude oil inventory is expected to cover approximately 18 days of demand, according to Kpler’s calculations.The decline in India’s reserves comes at a time when global crude inventories are also witnessing a sharp decline. The International Energy Agency said global oil inventories fell by 129 million barrels in March, followed by another decline of 117 million barrels in April.