Indian Refinery MRPL Bars Crude Suppliers From Hormuz and Red Sea Routes in Spot Tender
India's Mangalore Refinery and Petrochemicals Ltd. (MRPL) has become the first Indian refiner to prohibit crude suppliers from using both the Strait of Hormuz and the Red Sea, inserting the restriction into a spot tender for up to 1 million barrels of crude for delivery between August 25 and September 6. The decision follows sustained disruption in Middle East shipping corridors, including Houthi attacks on Red Sea vessels and reduced tanker traffic through Hormuz despite a halt in US-Iran strikes. MRPL did not award its previous crude tender and plans to retain the routing restrictions if West Asian conditions do not improve. Tanker traffic through the Bab el-Mandeb Strait remains near multi-month lows, with only 11 commodity tankers transiting on Sunday. Brent crude prices fell sharply to ~$88 after Washington and Tehran halted military strikes, but shipping activity has yet to recover.
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