India’s Vizhinjam International Seaport in Kerala began full export-import operations on August 18, marking a new phase for one of the country’s most strategically positioned deep-water ports. The transition expands Vizhinjam’s role from transshipment to a direct gateway for Indian cargo moving to and from international markets.
India oil imports from Russia reached a record share in July, with Russian crude accounting for 50.83% of India’s total crude oil imports, according to trade data reviewed by Reuters. Russian shipments averaged 2.47 million barrels per day, up 62.4% from a year earlier, as disruptions in Middle Eastern supplies changed the sourcing choices of Indian refiners.
Iran and the United States made competing claims over control of the Strait of Hormuz on August 13, keeping one of the world’s most important energy shipping routes at the center of global market attention. The development comes as negotiations over restoring normal traffic remain unresolved, while oil prices have also come under pressure from weaker global demand expectations.