KARACHI, Mar 13 (APP): Two vessels carrying between 100 million and 120 million litres of oil arrived in Karachi on Friday, offering some relief amid growing global and domestic fuel supply concerns, officials of the Pakistan National Shipping Corporation (PNSC) said.
The officials said the ships reached the port under the protection and escort of the Pakistan Navy following recent attacks on commercial vessels in the region.
Federal Minister for Maritime Affairs Muhammad Junaid Anwar thanked the Pakistan Navy for ensuring the safe passage of the ships and said the government had asked the Foreign Office of Pakistan to engage with Iran regarding the release of two Pakistani vessels currently stuck in the Persian Gulf.
Operation launched to protect maritime trade
The development comes as the Pakistan Navy launched Operation Muhafiz-ul-Bahr to protect national shipping and maritime trade amid rising regional security threats.
The initiative aims to ensure the uninterrupted flow of energy supplies and safeguard key Sea Lines of Communication (SLOCs) used for international trade.
Strait of Hormuz disruption raises global concerns
The operation has been initiated against the backdrop of the ongoing conflict involving Iran, the United States and Israel, which has disrupted shipping through the vital Strait of Hormuz.
The strategic waterway handles nearly one-fifth of the world’s oil shipments, and disruptions have raised fears of fuel shortages in several countries, including Pakistan.
According to the International Energy Agency, the conflict has triggered the largest oil supply disruption in history, with global supply expected to decline by eight million barrels per day in March, nearly 8 percent of global demand.
Tanker attacks heighten tensions
Regional tensions intensified after explosive-laden boats reportedly attacked two fuel tankers near Iraqi waters.
According to port officials in Iraq, the vessels targeted were the Marshall Islands-flagged Safesea Vishnu tanker and the Malta-flagged Zefyros tanker, both carrying fuel cargoes. The attack set the vessels ablaze and reportedly killed one crew member.
Shipping activity in the Gulf and along the Strait of Hormuz has slowed sharply since airstrikes on Iran began on February 28, sending global oil prices to their highest levels since 2022.
Iran’s Islamic Revolutionary Guard Corps has warned that if attacks on Iran continue, it could block oil shipments from the Middle East to the United States, Israel and their allies.
Pakistan takes emergency measures
In response to the global energy crisis, Pakistan has taken emergency economic measures, including a Rs55 per litre increase in petrol and diesel prices and regular weekly fuel price reviews.
The latest revision raised petrol prices to Rs321.17 per litre from Rs266.17, while diesel prices increased to Rs335.86 per litre from Rs280.86.
Authorities have also issued fuel conservation directives and austerity measures to reduce non-essential consumption.
Meanwhile, Pakistan has begun importing crude oil through the Red Sea route following disruptions to shipments passing through the Strait of Hormuz.