State-owned Shipping Corp. of India is ready to go back to Persian Gulf once it has approval from navy and it has business from oil refiners, the report quoted a source as saying.

India and other oil importers may negotiate transit deals with Iran amid ongoing geopolitical risks, according to Moody's report.

Missiles, mines, attacks on ships, US blockade, Iran’s closure - the Strait of Hormuz has de facto been closed since the start of the Middle East conflict since late February.…