India's HPCL Shifts to Delivered Oil Purchases as Freight Risks Mount
🛢️ MUMBAI — India's refiner is making sellers absorb the war's freight risk, not buyers. 📌 LOOK CLOSER: Delivered-basis buying transfers shipping cost and risk to exporters — HPCL pays a fixed price, seller worries about Hormuz. With freight rates spiking and rupee under pressure, New Delhi's refiners are quietly repricing who bears conflict exposure. Sellers accepting these terms need the Indian market badly enough to absorb that risk. It shifts leverage — and names who's desperate.
