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MRPL blocks crude shipments via Hormuz and the Red Sea in spot tender
MRPL’s spot tender covers up to 1 million barrels for delivery from August 25 to September 6, and the company plans to keep the routing limits if West Asia conditions do not improve.
India’s Mangalore Refinery and Petrochemicals Ltd., or MRPL, is restricting crude supplies by telling suppliers to avoid both the Strait of Hormuz and the Red Sea, a first for an Indian refinery in spot import tenders, OilPrice reports.
The restriction is included in a spot tender seeking cargoes for delivery between August 25 and September 6, covering up to 1 million barrels, and it specifies that crude loading or transit through either shipping corridor is to be avoided.
The decision comes after a week of disruption across the Middle East’s main oil shipping routes, with Houthi forces targeting vessels in the Red Sea after declaring a blockade on Saudi exports, while tanker movements through Hormuz remain below normal.
OilPrice also cites reporting that MRPL did not award its previous crude tender, that it intends to retain the routing restrictions in future spot tenders if conditions in West Asia do not improve, and that tanker traffic through the Bab el-Mandeb Strait is at near multi-month lows.
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