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Market Chatter: India to Seek Safe Route for Nine Ships Amid Renewed Tensions in Strait of Hormuz

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India is likely to hold talks with Iran to ensure a safe passage for at least nine tankers loaded with crude oil and liquefied petroleum gas waiting in the Persian Gulf amid the unrest at the Strait of Hormuz, according to a Bloomberg report on Thursday, citing people familiar with the matter.

As part of its plan, the Indian foreign ministry is expected to contact Iranian authorities over the safety of Indian mariners in the region, including the 198 sailors aboard the nine tankers that are ready for transit, the sources cited in the report said.

The foreign affairs and shipping ministries did not immediately respond to' request for comment.

According to the news report, six vessels bound for destinations, including India, tried to cross the contentious strait a few hours after U.S. strikes on Tuesday. However, at least one Indian supertanker named Lila Vadinar reversed course.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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