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27.08.26 - 02:45
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India′s Crude Import Bill Surges As Hormuz Shipping Rates Soar (ZeroHedge)
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India's Crude Import Bill Surges As Hormuz Shipping Rates Soar
Authored by Tsvetana Paraskova via OilPrice.com,
India's crude oil import bill has soared since the Iran war choked Middle Eastern oil supply, raised benchmark crude prices, quadrupled freight rates, and boosted insurance on a single Strait of Hormuz voyage to never-before-seen highs.
India has been paying elevated prices to import Middle Eastern crude not only because of the spike in oil prices, but also due to the surging costs to bring supply from the nearest region from which it can import crude.
The freight rates on the key route from Ras Tanura on Saudi Arabia's Persian Gulf to India have soared by more than 400% since February 28, when the war began, and Iran closed off the Strait of Hormuz. The rate for shipping crude on a very large crude carrier (VLCC) from Ras Tanura to India surged by 411% to $4.34 a barrel in August, from just $0.85 per barrel before the war, according to data compiled by Indian outlet Financial Exp...
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26.08.26 - 01:36
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Air India seeks $1.5 billion from owners Tata, Singapore Air (Times of India)
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Air India needs capital, but the $1.5 billion will be injected in phases, people familiar with the matter said. Co-owner Singapore Airlines will contribute its 25% share. Tata Sons had paused additional equity support in the year to March 2026. Its investment in Air India stood unchanged at Rs 22,618 crore in the FY2026 report, the same level as a year earlier — indicating no fresh equity was infused during the year....
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23.07.26 - 14:06
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Longer routes, higher costs, 26,000 cancellations: US-Iran conflict hits Indian airlines (Times of India)
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Indian airlines have cancelled approximately 26,000 international flights due to Middle East airspace restrictions. These disruptions have led to flight diversions and delays, impacting airline operations significantly. Longer flight routes are increasing fuel consumption and raising overall operating expenses for carriers. Airlines are also experiencing substantial revenue losses as the conflict continues. Despite these challenges, carriers are implementing measures to maintain service continuity....
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