India: 10 Ships Wait to Cross Hormuz
India has 10 ships waiting to cross the Strait of Hormuz, with 11 India-bound ships having crossed since the US-Iran MOU
-Iran interim/ceasefire framework, but AP notes shipping and insurance markets remain cautious, while RBC had recently been skeptical of a quick June reopening. The market significance is energy-security and freight risk for India, since Hormuz is a key route for crude, LPG and LNG cargoes into India.