The shutdown of the Strait of Hormuz following the war in Iran has delivered a harsh lesson to global energy markets: the waterway carries far more than crude oil. Since the start of the conflict, Iran has allowed only two LPG vessels to pass through the strait – Shivalik and Nanda Devi, both Indian-flagged tankers carrying a combined 92,000 tonnes of LPG, which reached Indian ports on March 16 and March 17, respectively. Freight durations from the US to India are broadly comparable to those to Japan – minus Panama Canal transit costs in case of Indian cargoes – meaning delivered US LPG prices for India would likely land in the $850–$900/t range.
Author: Natalia Katona
Published at: 2026-03-19 23:00:00
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