Two Vessels Carrying 92,000 Tonnes of LPG Begin Movement
ECONOMY & POLICY

Two Vessels Carrying 92,000 Tonnes of LPG Begin Movement

Two vessels carrying 92,000 tonnes (t) of liquefied petroleum gas have begun movement, the Ministry of Ports, Shipping and Waterways confirmed, amid disruptions to gas and fuel supplies linked to the West Asia conflict. The ministry said details regarding the ships will be released later. A cargo ship carrying liquefied petroleum gas from Texas in the United States arrived at New Mangalore Port in Mangaluru on Sunday.

The ministry said New Mangalore Port has waived cargo related charges for crude oil and liquefied petroleum gas from 14 March to 31 March and that no congestion has been reported at any port. In an interministerial briefing the Special Secretary of the Shipping Ministry, Rajesh Kumar Sinha, reported that all 22 Indian ships and 611 Indian sailors in the Persian Gulf region are safe and are being continuously monitored. There has been no maritime incident reported in the previous 24 hours according to the ministry.

The Ministry of Petroleum and Natural Gas reported that panic booking of domestic LPG cylinders has declined significantly, with five point five million (mn) bookings recorded on Thursday. Authorities are monitoring bookings and supply chains to avoid shortages and to reassure consumers. Disruptions to oil, gas and maritime trade routes, including pressure reported around the Strait of Hormuz, were described as posing a mounting threat to global economic stability.

The ministry noted that the West Asia situation has persisted into its 24th day since the joint United States and Israeli offensive on 28 February and reported the death of Iran's 86-year-old Supreme Leader and the appointment of his son as successor. The ministry said it is coordinating with other agencies to ensure continuity of supplies and the safety of Indian seafarers and shipments. It added that further operational details would be provided as available.

Two vessels carrying 92,000 tonnes (t) of liquefied petroleum gas have begun movement, the Ministry of Ports, Shipping and Waterways confirmed, amid disruptions to gas and fuel supplies linked to the West Asia conflict. The ministry said details regarding the ships will be released later. A cargo ship carrying liquefied petroleum gas from Texas in the United States arrived at New Mangalore Port in Mangaluru on Sunday. The ministry said New Mangalore Port has waived cargo related charges for crude oil and liquefied petroleum gas from 14 March to 31 March and that no congestion has been reported at any port. In an interministerial briefing the Special Secretary of the Shipping Ministry, Rajesh Kumar Sinha, reported that all 22 Indian ships and 611 Indian sailors in the Persian Gulf region are safe and are being continuously monitored. There has been no maritime incident reported in the previous 24 hours according to the ministry. The Ministry of Petroleum and Natural Gas reported that panic booking of domestic LPG cylinders has declined significantly, with five point five million (mn) bookings recorded on Thursday. Authorities are monitoring bookings and supply chains to avoid shortages and to reassure consumers. Disruptions to oil, gas and maritime trade routes, including pressure reported around the Strait of Hormuz, were described as posing a mounting threat to global economic stability. The ministry noted that the West Asia situation has persisted into its 24th day since the joint United States and Israeli offensive on 28 February and reported the death of Iran's 86-year-old Supreme Leader and the appointment of his son as successor. The ministry said it is coordinating with other agencies to ensure continuity of supplies and the safety of Indian seafarers and shipments. It added that further operational details would be provided as available.

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