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The conflict in the Red Sea region is unlikely to disrupt delivery of energy supplies to India or leave a lasting impact on its economy, despite around half of the country’s oil imports transiting that area, suggest industry officials and shipping data.
So far, at least seven vessels carrying crude oil and fuels to India have been diverted via the Horn of Africa to avoid the Red Sea route. This might have meant longer voyages and higher shipping costs, according to London-based market intelligence agency Vortexa. But the overall impact is likely to be minimal as “these diversions… represent a
First Published: Jan 05 2024 | 6:15 AM IST
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