Suez crisis: Houthi attacks disrupt India's diesel trade and oil business

Houthi missile strikes on tankers have threatened the competitiveness of Indian fuel exports, prompting out-of-the box solutions like hiring VLCCs to transport fuels

Sonangol Huila, a very large crude carrier (VLCC), left Jamnagar carrying 1 million barrels of diesel on July 8 and reached Le Havre, a French port, on August 18; Elandra Falcon, carrying 1 million barrels of ultra-low sulphur diesel, left Jamnagar in June and reached Vesta Antwerp on August 10.

One could dismiss these trips as one of those typical journeys happening over the years, with vessels ferrying fuels from Reliance Industries’ Jamnagar refinery to consumers in Europe. Such trips, led by Reliance, helped India earn $57.3 billion in FY23 and $47.7 billion in FY24 from overseas fuel