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
** Note: Hormuz traffic has improved after the U.S.-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.