Indian oil refiners are hiring tankers to sail through the Strait of Hormuz to pick up crude from within the Persian Gulf, a change of tactics to help them cut costs and secure their supply chains.
Processors have issued tenders and are negotiating with shipping lines, according to people familiar with their efforts. So far, Sinokor Group and Dynacom Tankers Management Ltd. have been awarded tenders, said the people, asking not to be named as they’re not authorized to speak to media.
