India has condemned the attack on the Cyprus-flagged container ship M/V GFS Galaxy in the Strait of Hormuz, which resulted in one Indian crew member going missing. The United States responded with a third round of retaliatory strikes against Iranian targets, further escalating tensions in the Gulf.
A convoy of India-bound ships carrying crude oil and gas was stopped by the Iranian Revolutionary Guard Corps (IRGC) in the Strait of Hormuz, leading to several vessels returning to the Persian Gulf.
India has condemned the escalating attacks on commercial shipping in West Asia, particularly after a Thai-flagged vessel en route to India's Kandla Port was targeted in the Strait of Hormuz. The attacks have disrupted global oil and gas supplies, impacting India's energy imports.
Iranian forces fired upon three commercial vessels in the Strait of Hormuz, with one possibly headed for Gujarat, raising concerns about maritime security in the strategic waterway.
The 2022-23 Budget has projected a disinvestment target of Rs 65,000 crore for next financial year. This is significantly lower than the estimated Rs 1.75 lakh crore budgeted for 2021-22. In the revised estimates, the target for 2021-22 has been cut to Rs 78,000 crore.
Analysts predict that the Reserve Bank of India's interest rate decision, the evolving situation in West Asia involving the US-Iran conflict, and crude oil prices will be the primary factors influencing investor sentiment in the Indian stock market this week.
India has condemned an attack on a Cyprus-flagged commercial vessel off the coast of Oman, which resulted in one Indian crew member going missing. The incident occurred amidst escalating hostilities between Iran and the US in West Asia, prompting India to call for immediate de-escalation and an end to targeting commercial shipping in the region.
An India-bound container vessel, the 'Epaminondes', was seized by Iran's Islamic Revolutionary Guard Corps in the Strait of Hormuz, with an Indian merchant navy officer from Rajasthan among the crew, his family reported. The family has appealed to the Indian government for assistance in ensuring the safe return of the crew.
Despite international crude oil prices falling to a four-month low, retail petrol and diesel prices in India are unlikely to be cut immediately because state-run refiners are still processing costlier crude purchased during the peak of the West Asia crisis, Oil Minister Hardeep Singh Puri said.
IRGC said vessels seeking to sail through the strategically critical Strait of Hormuz must obtain Iran's approval; otherwise, they could become targets of Iranian attacks.
Flex fuel motorcycles can deliver "3 per cent higher torque and 7 per cent higher peak power".
The report said ships must submit full documentation, obtain clearance codes and accept IRGC-escorted passage through a designated corridor.
India has denied making any payments to Iran to secure safe passage for its vessels through the Strait of Hormuz, following reports that Indian vessels were fired upon in the region.
Escalating geopolitical tensions in West Asia are beginning to disrupt India's automotive supply chain, leading to rising commodity prices, logistics bottlenecks, material shortages, and pressure on consumer demand, with two-wheeler makers already raising prices.
One Indian oil tanker successfully crossed the Strait of Hormuz, while others turned back after Iran signalled the waterway's closure, amidst rising tensions and disruptions to global energy flows.
Falling oil rates have made rigs available for hire at a cheaper rate. Oil and Natural Gas Corporation planned to foray into building rigs in June 2008 owing to its short supply as crude oil prices zoomed northwards.
Iran has asserted that maritime movement through the Strait of Hormuz will be strictly controlled by Tehran, stating that passage will be allowed only through designated routes and under Iranian approval.
India has raised concerns with Iran over the safety of merchant shipping after two vessels were fired upon in the Strait of Hormuz, prompting them to turn back.
The tanker reportedly switched off its Automatic Identification System (AIS) transponder while navigating the high-risk stretch of the strait and reappeared on tracking systems on March 9.
The Indian Navy's Republic Day tableau will showcase indigenous platforms like INS Vikrant and a stitched ship from the 5th century CE, highlighting the theme of a 'Strong Navy for a Strong Nation'.
Indian Coast Guard ship Sarthak visited Chabahar port in Iran, marking the first such visit and underscoring India's growing maritime engagement in the region. The visit aims to strengthen institutional linkages and enhance mutual understanding in maritime safety and security.
Iran has reimposed restrictions on the Strait of Hormuz, with its forces opening fire on a passing tanker and forcing at least two Indian vessels to reverse course, escalating tensions in the region and raising concerns over energy supplies.
Indian refiners have access to only limited Iranian volumes compared with Russian oil, and even the barrels on offer come with 'too many hassles'.
Tensions escalate between Iran and the US following an attack on an Iranian commercial vessel in the Sea of Oman, with both sides trading accusations over maritime security and ceasefire violations.
Government invited fresh bids on Tuesday for a 51 per cent stake in its largest shipping line, Shipping Corporation of India, a government notice said.
A meeting of the board of directors of Shipping Corporation of India Ltd is scheduled on January 31, 2003 for taking on record the unaudited financial results (provisional) for the quarter ended on December 31, 2002.
Is the current rally telegraphing a durable peace plan in West Asia, boosted by United States (US) President Donald Trump's incoherent and contradictory posts on social media?
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
'Our diplomacy should have been focused on preventing war and avoiding the inevitable disruptions it would cause, posing a real risk to India's growth story,' asserts former foreign secretary Shyam Saran.
Amid rising tensions, Iran threatens retaliation after the United States confirms sinking its warship, IRIS Dena, in international waters, escalating conflict in the region.
Shipping Corporation of India Ltd has posted a net profit of Rs 762.20 million for the quarter ended December 31, 2002 as compared to Rs 379.70 million in the quarter ended December 31, 2001.
On Saturday, it was reported that a drone strike had targeted the Fujairah Port in the UAE, triggering a fire.
Indian private sector and State-run refiners continued to receive crude oil from Russian suppliers even after November 21 -- the winding-down date for US sanctions on supplies from leading Russian oil producers imposed in October -- as new intermediaries sprung up in West Asia to sell the oil, according to senior refining sources and ship tracking data.
Taking Kharg would give the US control over virtually all of Iran's oil exports and thus provide significant leverage, notes Prem Panicker in his must read daily blog on the Gulf War. It would also put American troops within range of Iran's remaining missiles, drones, and artillery on a piece of real estate that is just eight square miles in size, and just 15 miles from the Iranian mainland.
Around 100 artistes heralded the parade, on the theme 'Vividata Mein Ekta (Unity in Diversity) that featured a grand presentation of musical instruments, demonstrating the nation's unity and rich cultural diversity.
The pause gives the US time to breathe, to regroup, to move its expeditionary force into position without risk of interception along the way. It gives Iran nothing -- on the ground, attacks against its infrastructure continue apace. Prem Panicker in his must read daily blog on the Gulf War.
Sources are in touch with Iranian authorities through diplomatic channels, both in Tehran and in Delhi.
Official sources in India said it is in touch with Iran to secure the release of 17 Indians.
The MSC Aries was last seen on Friday, sailing towards the Strait of Hormuz off the coast of Dubai, according to The Times of Israel.
