U.S.-sanctioned Iranian ships banned from Indian waters

July 27, 2012
Iranship
New Delhi, July 27: India has imposed a ban on Iranian ships hit by U.S. sanctions from entering its waters, leaving the oil marketing companies (OMCs) with little options.

“We were to import four tankers or cargos of about 990,000 each from Iran in July. But were able to get one as the cost, insurance and freight (CIF) approval was withdrawn by the Indian government,’’ Mangalore Refineries and Petrochemicals Limited (MRPL) Managing Director, P.P. Upadhya told journalists in New Delhi on Friday.

Following the imposition of the European Union sanctions from July 1, the Indian government had allowed import of crude oil from Iran in ships arranged by Tehran. It had allowed MRPL and other OMCs to import oil from Iran on CIF basis. It was left to Tehran to arrange for ships and insurance under this arrangement.

However, the permission to MRPL and other OMCs was revoked within days leaving them high and dry. The U.S. had imposed sanctions against National Iranian Tanker Company and its 58 vessels. MRPL had in 2011-12 contracted 7.3 million tonnes of crude oil from Iran but imported only 6.2 million tonnes as India cut imports from Persian Gulf nation to win a waiver from U.S. sanctions.

MRPL Director (Finance), Vishnu Aggarwal said that while India has got waiver from U.S. sanctions for its import of crude oil from Iran, shipping was not covered in that.

Crude oil imports from Iran are possible only if state insurers led by General Insurance Corp. (GIC) provide insurance cover for domestic ships carrying Iran crude. However, the matter for sovereign guarantee for ships is still pending resolution with the government.

On its part, it is understood that GIC had agreed to provide domestic ships a $ 50 million of cover for hull and machinery (H&M) and a similar cover for protection and indemnity (P&I) but this has been delayed as company has not got approval from the insurance regulator.

Mr. Upadhya informed said MRPL had imported 1.2 million tonnes of crude oil from Iran so far this fiscal beginning April 1, 2012. To compensate for the loss of crude oil supplies from Iran, the company has almost doubled its purchase of oil from spot market. It now buys up to 3 cargoes or shiploads every month instead of one earlier. It has this year started buying oil from Iraq after signing an annual contract for 11,000 barrels per day or just over 0.5 million tonnes. It buys 2.5 million tonnes on term contract from Saudi Arabia and another 2 million tonnes from Abu Dhabi.

Mr. Agrawal said the company has covered supplies of up to 9 million tonnes this year from overseas sellers and domestic fields like Bombay High. Of the 14.5 million tonnes of crude oil processing planned this year, the company is reliant on Iran for only 5 million tonnes. “Even out of this, we have imported 1.2 million tonnes. So the uncovered supplies are very less,’’ he remarked.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 23,2020

New Delhi, Jul 23: With the highest single-day spike of 45,720 cases, India's coronavirus count crossed 12 lakh mark on Thursday.

The Union Ministry of Health and Family Welfare informed that 1,129 deaths were recorded in the last 24 hours.

The total number of coronavirus cases stand at 12,38,635 including 4,26,167 active cases, 7,82,606 cured/discharged/migrated. The cumulative toll has reached 29,861 deaths.

Maharashtra has reported 3,37,607 cases, highest in the country followed by Tamil Nadu with 1,86,492 cases. Delhi coronavirus count has reached 1,26,323 cases.

According to the Indian Council of Medical Research (ICMR), 1,50,75,369 samples were tested till July 22 out of which 3,50,823 samples were tested yesterday.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 17,2020

New Delhi, Jun 17: AAP MLA and national spokesperson Atishi has tested positive for COVID-19, her party colleagues said on Wednesday.

Delhi Chief Minister Arvind Kejriwal took to Twitter to wish her speedy recovery.

"Atishi ji has played an important role in the fight against corona. I hope that she will get healthy soon and again get involved in serving the people," Kejriwal tweeted in Hindi.

According to sources, Atishi was tested on Tuesday for COVID-19 and her report came positive today.

She is presently under home quarantine, the sources said.

"Get well soon Atishi, recover soon from Corona," AAP MLA Saurabh Bhardwaj tweeted.

Atishi represents Kalkaji assembly constituency.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 13,2020

Dehradun, Jun 13: Chief of Army Staff General M M Naravane on Saturday said the country is passing through difficult times and its safety and honour depend on the ability of its young officers as military leaders.

Addressing gentlemen cadets at the Indian Military Academy here as the reviewing officer of a passing out parade, Gen Naravane said they are being commissioned as officers into the army under the most daunting of circumstances and the high standards of their military training will help them overcome the challenges lying in store for them.

The parade saw a total of 423 cadets being commissioned into the army including 333 from the country and 90 from friendly foreign countries.

"These are difficult times for the country. Its safety, honour and respect depend on your abilities as military leaders. You have to live up to the expectations of your countrymen. You have to ensure that whatever you do is for their welfare," he said.

The army chief said there are no good or bad regiments but only good officers.

"Become one with your men. Win their trust and affection and they will win battles for you," Naravane said.          

He asked the gentlemen cadets to throw themselves into their new role as commissioned officers with passion but also be compassionate towards their men.

"When the going gets tough and all seems lost, it is the spirit of your men that helps you win," he said.          

He said the gentlemen cadets who are taking their first step as commissioned officers will have to make decisions in the tactical and operational domain as well as resolve ethical issues and they will have only their conscience to guide them.          

"In such critical moments let the core values enshrined in the preamble of the constitution of India be your guiding light," the Army Chief said.

Asking them to rise above petty considerations of caste, creed and religion, he said the army does not discriminate.

Apart from containing the external threats, you may also have to defang internal forces out to destabilise the country.

He said the precise drill movements of the cadets had convinced him they will do their respective countries proud.

"In the autumn of your careers what will matter is not the position you finally attain but how honourably you have served your nation," he said.              

In a message to the gentlemen cadets' parents, who were not allowed to attend the event due to the coronavirus pandemic, the Army Chief said, "Till yesterday they (gentlemen cadets) were your children but from tomorrow they will be ours."

He promised to be with them through thick and thin.

The parade looked slightly off-colour this time with the enthusiastic crowds of parents and some usual features missing like the showering of the drill square with flower petals by helicopters.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.