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37 Indian-flagged ships stranded in Hormuz; Rs100 billion assets exposed to Middle East conflict
Indian National Shipowners Association sought intervention as vessels are caught in a blocked-style closure; tankers are loaded with crude oil and LPG headed to India
- PUBLISHED: Thu 5 Mar 2026, 4:18 PM
[Editor's Note: Follow Khaleej Times live blog amid Israeli, US strikes on Iran for the latest regional developments.]
The ongoing US-Israel-Iran war has resulted in 37 Indian-flagged vessels getting stranded in the Strait of Hormuz, with shipping assets worth over Rs100 billion (nearly Dh4 billion) exposed to growing security risks, Indian shipowners have warned.
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Many of the tankers are loaded with crude oil or liquefied petroleum gas (LPG) headed to Indian ports.
In a letter to the Indian Ministry of Ports, Shipping and Waterways, the Indian National Shipowners Association (INSA) has sought urgent government intervention as the vessels are caught in a “blocked style closure”.
The INSA also sought clarification from the government about reports claiming Chinese and Iranian ships still pass through the Strait of Hormuz. This has caused confusion among Indian ship operators, who are seeking guidance from the Indian government as to whether it is safe to sail.
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About 85 per cent of India’s LPG imports are through the strait and any disruption could create problems in India, the association noted, requesting the Indian government to ensure that Indian-flagged vessels get safe passage in the strait and that its crew members are protected.
INSA also said three Indian tankers have been attacked since the conflict began on February 28. One INSA vessel narrowly escaped a missile attack, which landed just a mile away.
According to Lloyds List Intelligence, about 200 internationally-trading crude oil and product tankers are stranded in the Gulf waters. About 400 Indian seafarers are also aboard Indian-flagged oil tankers and gas carriers, said INSA CEO Anil Devli.
Nearly a fifth of global oil and gas exports flow through the strait. About 40 per cent of India’s oil and 50 per cent of its LNG imports are through the Strait of Hormuz.
War-risk premiums have also risen sharply for ships passing through the strait. Devli warned that insurance cover for ships passing through the strait could nearly double. “Freight rates have already zoomed up and many operators are reluctant to accept new orders,” he added.
