Indian Oil Refiners Hire Tankers for Direct Gulf Procurement
Indian oil refiners are hiring private tankers to collect crude oil directly from the Persian Gulf to lower costs and secure supply chains.
Several Indian oil refiners are altering their procurement strategies by hiring tankers to sail through the Strait of Hormuz to collect crude oil directly from within the Persian Gulf. This tactical shift is designed to reduce operational costs and strengthen the security of their energy supply chains.
To implement this change, refiners issued tenders and entered negotiations with multiple shipping lines. Sinokor Group and Dynacom Tankers Management Ltd. were awarded tenders to facilitate these movements. Conversely, bids submitted by the Shipping Corporation of India and Lila Global were canceled during the procurement process.
