Karachi/Riyadh: Pakistan has begun importing crude oil through the Red Sea after the closure of the Strait of Hormuz disrupted shipments, according to sources familiar with the matter. This step comes as the ongoing conflict in the Middle East has severely affected global oil transit.
PNSC Ships Mobilized
A Pakistan National Shipping Corporation (PNSC) vessel has arrived at Yanbu port in Saudi Arabia and is scheduled to depart for Karachi on Thursday carrying 73,000 tonnes of crude oil. Another PNSC ship, Shalamar, has successfully loaded oil from Fujairah port and is also en route to Karachi.
Shipping sources noted that several vessels remain stranded due to the disruption in the Strait of Hormuz, including two PNSC ships near Karachi and another at a charter port, highlighting the ongoing logistical challenges caused by the conflict.
Impact of the Strait of Hormuz Closure
The Strait of Hormuz, a critical global oil transit route, has seen nearly a complete halt in shipping since the start of the US-Israel war on Iran over a week ago. The blockade has affected the export of around one-fifth of the world’s oil supply and liquefied natural gas, sending global oil prices soaring to levels not seen since 2022.
Iranian Revolutionary Guards Intercept US-Flagged Vessel in Strait of Hormuz
The disruption has also affected Pakistan domestically. Rising international prices forced the federal government to raise petrol and diesel rates by Rs55 per litre. Petrol now costs Rs321.17 per litre, up from Rs266.17, while diesel has increased to Rs335.86 per litre, up from Rs280.86.
Port Qasim Shipments
Officials confirmed that four petrol-laden ships arrived at Port Qasim on Tuesday. About 37,000 tonnes of petrol have already been offloaded, with another shipment of 50,000 tonnes currently being transferred.
Strategic Importance
Importing oil via the Red Sea route allows Pakistan to bypass the closed Strait of Hormuz, ensuring the country’s energy supplies continue despite regional instability. The step is critical for maintaining domestic fuel availability and stabilizing energy imports during a period of global uncertainty.
