Hormuz ship attacks surge: Are increased oil exports sustainable?
GS3Economy · S&T · Environment · Security· External sector, trade & FDI· Prelims + Mains·
Energy security and maritime trade corridors: a key GS3 topic regarding global supply chain resilience.
Why in news
India’s Ministry of Foreign Affairs reported 12 crew members were injured on a Panama-flagged tanker due to a projectile attack in the Strait of Hormuz amidst a surge in maritime security incidents.
Background
Gulf oil exports (excluding Iran) recovered to over 81 percent of pre-war levels in September. The Strait of Hormuz typically handles 125 large commercial vessels daily, accounting for 20 percent of global crude and LNG supplies.
Facts for Prelims
- FactGulf oil exports recovered to over 81 percent of pre-war levels in September.
- FactStrait of Hormuz shipments account for approximately 20 percent of global crude and liquefied natural gas supplies.
- PlaceSaudi Arabia utilizes the East-West pipeline and ship-to-ship transfers to bypass the Strait of Hormuz.
- FactThe Strait of Hormuz typically handled about 125 large commercial vessels a day before the US-Israel war on Iran began on February 28.
Prelims practice question
With reference to the Strait of Hormuz and global energy trade, consider the following statements:
- Gulf oil exports recovered to over 95 percent of pre-war levels in September.
- The Strait of Hormuz accounts for approximately 20 percent of global crude and LNG supplies.
- The Strait of Hormuz typically handles about 50 large commercial vessels a day.
Which of the statements given above is/are correct?
- (a)2 only
- (b)1 and 2 only
- (c)1 and 3 only
- (d)2 and 3 only
Show answer
Answer: (a) 2 only — Statement 2 is correct. Statement 1 is incorrect: The note states exports recovered to over 81 percent. Statement 3 is incorrect: The note states it typically handles about 125 large commercial vessels a day.
For Mains
Q. Discuss the impact of maritime security threats in the Strait of Hormuz on global energy supply chains and India's energy security.
Dimensions to cover in your answer
- Supply chain volatility: Escalating freight, insurance, and security costs for commercial shipping.
- Geopolitical bypass: Saudi Arabia's reliance on East-West pipeline and ship-to-ship transfers to mitigate strait risks.
Keywords: Energy Security · Maritime Safety · Supply Chain Resilience · Geopolitical Risk · Trade Corridors
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This note is generated automatically from SatyaDheesh's news feed and mapped to the UPSC CSE syllabus. Check facts against the original report or PIB before using them in an answer.