Mangalore Refinery and Petrochemicals Ltd (MRPL) has chartered the Aframax tanker Jasmin Joy to load crude oil from Iraq's Basrah terminal, marking the first time an Indian state-owned refiner has secured a cargo from the country since the partial reopening of the Strait of Hormuz.
The vessel is scheduled to load between July 19 and 20, according to three shipping sources cited by Hindu Businessline.
The move comes as approximately 14 million barrels of previously stranded Iraqi crude have cleared the chokepoint over the past ten days, signaling a tentative return to commercial shipping norms in the region.
The move comes as approximately 14 million barrels of previously stranded Iraqi crude have cleared the chokepoint over the past ten days, signaling a tentative return to commercial shipping norms in the region.
This development follows the successful navigation of at least three Iranian crude tankers carrying nearly five million barrels past the U.S. Navy blockade in the Strait, the first such outbound shipments in two months.
Despite these signs of normalization, shipping risks remain elevated; a tanker was recently hit by a projectile in the Strait, underscoring the persistent geopolitical pressure on trade routes.
The resumption of flows is critical for global energy markets, which have been pricing in significant supply disruption risks.