AGP Executive Report
Last update: 2 hours agoStrait of Hormuz, shipping safety: India says the Marshall Islands-flagged tanker Nissos Keros safely crossed the Strait of Hormuz and is due to arrive in Visakhapatnam on June 3, carrying about 270,000 tonnes of crude oil, as officials coordinate movements through India’s External Affairs and Petroleum ministries while keeping operational details tight. US sanctions on Iran’s oil trade: The US Treasury and State Departments rolled out fresh sanctions targeting Iran-linked “shadow oil” networks, including eight vessels and multiple firms across places like the Marshall Islands, Hong Kong, Qatar, Singapore and the UAE, warning the measures aim to cut revenue tied to Iran’s military. Local energy planning ripple: India also ordered public oil companies to build at least 30 days of LPG reserves amid the West Asia crisis, alongside steps to protect supply and reduce diversion. Pacific maritime push (Majuro link): Majuro will host a key Pacific meeting next month where transport ministers from 10 Pacific countries will back a low-carbon shipping transition, including national action plans and a proposed $300 million push for low-carbon vessels, with the Marshall Islands’ Juren Ae cited for fuel savings. More Hormuz movement data: Shipping trackers report a higher share of non-Iranian vessels transiting Hormuz, even as Iran’s blockade and sanctions pressure continue.
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