MUMBAI, 12/03/2026: A crude oil tanker ‘Shenlong’ that passed through the Strait of Hormuz has arrived at Mumbai Port, becoming one of the first vessels to reach India via the critical route amid escalating tensions in the Middle East in Mumbai
| Photo Credit:
EMMANUAL YOGINI

Two tankers carrying liquefied petroleum gas are heading to India after crossing the Strait of Hormuz, providing some relief to acute shortages as the war in the Persian Gulf disrupts supply of the cooking fuel.

The ships were granted safe transit through the strait — which has been all but closed for nearly two weeks — after a deal between New Delhi and Tehran, according to people familiar with the matter, who asked not to be identified due to the sensitivity of the matter. They did not provide details.

The tankers — Shivalik and Nanda Devi — were chartered by state-run Indian Oil Corp. and should arrive in India next week, the people said. The vessels are owned by state-run Shipping Corp of India Ltd.

India’s Ministry of External Affairs didn’t immediately reply to a request for comment. An Iranian official familiar with the matter, who also declined to be named as he’s not authorized to speak to the media, said he could not confirm an agreement. Indian Oil did not immediately reply to an email seeking comment. 

Both ships have signaled through their AIS systems, used by ships to transmit their whereabouts, that they’re Indian government vessels. Ship-tracking data shows that the Shivalik has already sailed through the strait.

The Nanda Devi appears to be in transit, although electronic interference around the waterway complicates accurate monitoring of location. Both loaded from Ras Laffan in Qatar.

India has been suffering acute shortage of LPG, used for cooking and industrial processes and in petrochemical units to make plastics. The country is the second-largest importer of of the fuel, and takes 90% of it from the Middle East.

India, which also takes a large proportion of its crude from the Persian Gulf, has been in talks with Iran to secure the passage of tankers through the strait. 

A number of LPG vessels are now lined up to make the crossing, the people said. 

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Published on March 14, 2026

Maithan Alloys Limited said it has acquired 12,98,500 equity shares of Bank of India (BoI) on March 13, 2026, for ₹19.82 crore through the stock exchange.

This acquisition is as part of the company’s investment in the public sector bank is with view to reap the long-term/short-term investment benefits, Maithan Alloys said in a regulatory filing.

The company, which manufactures and exportes value-added manganese alloys and now has 0.03% of shareholding in BoI, said it does not intend to acquire control whether directly or indirectly of the management of the Target Entity.

Maithan Alloys equity shares on Friday (March 13, 2026) closed at ₹926.30 apiece, down 1.48 per cent over the previous close on BSE. BoI equity shares closed at ₹150.05 apiece, down 3.04% over the previous close on BSE.

Published on March 14, 2026

India has announced the extension of visas and waiver of overstay penalty to foreigners stranded in the country due to the ongoing conflict in West Asia.

Indian Consulate in Dubai issued a notification announcing that all Visas and e-Visas expiring or due for expiry soon would be extended for a month on a gratis basis for the jurisdictional Foreigners Regional Registration Offices (FRROS).

Authorities said the penalty for any overstay by affected foreign nationals due to the ongoing conflict after February 28 would be waived.

The authorities also clarified that the exit permits will be issued free of charge to foreign nationals affected by the travel disruption so they can leave India once routes reopen.

The consulate also stated that if a foreign nation is unable to apply for an Exit Permit and Extension of Visas, then it would not be treated as a violation of migration legislation.

Temporary Landing Permit (TLP) would also be granted to a foreign national arriving in India due to diversion of flights on a gratis basis, authorities said.

This comes as conflict in West Asia continues with the US and Israel pounding Iran with their drone and missile attacks.

Iran, in retaliation, has targeted US strategic bases in the Gulf region, along with directly hitting Israel. Nearly 500 Indian nationals travelled from Qatar to India and other global destinations on flights operated by Qatar Airways, the Indian Embassy in Doha said in an advisory.

In a post on X, the embassy on Friday said the passengers travelled on Qatar Airways flights to Kochi and other destinations.

The airline also facilitated the transportation of the mortal remains of two Indian nationals who died of natural causes, along with their accompanying family members, to Kochi on humanitarian grounds.

The embassy said Qatar’s airspace is only partially open, resulting in limited flight operations by Qatar Airways.

“One flight to Mumbai is planned for operations by Qatar Airways on March 14,” the advisory said, referring to Mumbai.

The limited flight operations follow an escalating West Asia security crisis, triggered by Iranian missile and drone strikes targeting US military bases, embassies, and civilian infrastructure across the Gulf region, including the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, and Jordan.

The conflict has caused significant disruptions to global energy supplies, particularly around the Strait of Hormuz, where approximately 20 per cent of the world’s oil transits.

Published on March 14, 2026

Barclays on Friday raised its 2026
Brent crude ​forecast to $85 per barrel, citing ‌ongoing supply
disruptions linked to ​the Iran war that ⁠have sharply reduced oil
flows through the Strait of Hormuz.

The bank ‌said oil flows through the Strait of Hormuz ‌route
have fallen to a ‌trickle ⁠and production shut-ins in ⁠Gulf
countries have climbed to more than 10 million barrels per day.

The ​revised forecast ‌assumes the situation in the Strait of
Hormuz normalizes within two to three weeks, Barclays ‌said in a
research note.

“If ​however, the market internalizes that it might take ⁠four
to six weeks for that, we could see 2026 ‌Brent reprice to
$100/b,” the bank added.

Oil prices have risen despite efforts by the International
Energy Agency to release strategic reserves, as uncertainty
around the ‌duration of the conflict continues ​to support
markets.

Brent futures on Friday settled at $103.14 a ⁠barrel,
up $2.68, or 2.67 per cent.

Barclays said the path ⁠of least resistance for oil prices
remains higher ‌until there is a inflection point in the
conflict.

Published on March 14, 2026