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 But were able to get one as the cost, insurance and freight (CIF) approval was withdrawn by the Indian government,’’ Mangalore Refineries and Petrochemicals Limited (MRPL) Managing Director, P.P. Upadhya told journalists in New Delhi on Friday.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However, the permission to MRPL and other OMCs was revoked within days leaving them high and dry.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.

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News Network
January 1,2020

New Delhi, Jan 1: In the backdrop of huge losses borne by airlines, Aviation Minister Hardeep Singh Puri has said the government is concerned that more airlines will shut down if predatory pricing continues. "Some predatory pricing is taking place" in airfares, the minister told reporters on Tuesday. Mr Puri however ruled out any plan by the government to regulate airfares. The remarks come amid high competition in the country's aviation sector, struggling against high fuel prices and other operating costs.

"The interesting thing that we have observed is that on Delhi-Mumbai route 20 years ago, the average fare was Rs 5,100. Today, the average fare is Rs 4,600. Some predatory pricing is taking place. It means people are selling tickets below their cost," he said.

"One of our concerns is that if there is predatory pricing, then the airlines will stop functioning. This is not Air India's problem only. Jet Airways got shut down. Before that, it was Kingfisher airline," he said.

IndiGo and SpiceJet - two of the country's biggest airlines - reported losses of Rs 1,062 crore and Rs 463 crore respectively in the second quarter of 2019-20. Other airlines have also reported losses in the quarter that ended on September 30, 2019.

Asked if predatory pricing is the reason for the ill health of the airlines, the minister said, "No, there are many reasons... Predatory pricing is one of the factors. But the profitability of an airline is dependent on (a) number of things."

Asked if the trend of predatory pricing has come down after regular discussion with the airlines, he said, "Yes, absolutely."

"It is (a) constant battle. An ideal situation from an airline's point of view is that they grow and they are also able to charge more fares. What fares they charge is their business. Our advice to them is to charge realistic fares," he added. "It should not be too high. And it is not in your business interests if you are imposing predatory fares."

The minister also said that the government is not planning to regulate fares. "No regulation. It has to be done within deregulation system.... If I put a cap on fare, the airline will start charging that cap only... that cap will become the normal fare... So, within a deregulated structure, we have to bring about an equilibrium," the minister said.

"Government, periodically, at my level or at secretary''s level, we sit down with the main aircraft operators and tell them it is in your interest not to allow such practices which undermine the civil aviation sector."

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News Network
May 19,2020

New Delhi, May 19: The number of coronavirus cases crossed the one lakh mark in the country on Tuesday, while the death toll due to the infection touched 3,163, according to the Union Health Ministry.

A total of 134 deaths and 4,970 COVID-19 cases were reported in the country in the past 24 hours since 8 pm on Monday, it said.

The total number of coronavirus cases has risen to 1,01,139, the ministry said.

The number of active COVID-19 cases stood at 58,802 while 39,173 people have recovered and one patient has migrated, it said.

"Thus, around 38.73 per cent patients have recovered so far," a senior health ministry official said.

The total confirmed cases include foreigners.

Of the 134 deaths reported since Monday morning, 51 were in Maharashtra, 35 in Gujarat, 14 in Uttar Pradesh, eight in Delhi, seven in Rajasthan, six in West Bengal, four in Madhya Pradesh, three in Tamil Nadu, two each in Punjab and Jammu and Kashmir, and one each in Bihar and Telangana.

Of the 3,163 fatalities, Maharashtra tops tally with 1,249 deaths. Gujarat comes second with 694 deaths, followed by Madhya Pradesh at 252, West Bengal at 244, Delhi at 168, Rajasthan at 138, Uttar Pradesh at 118, Tamil Nadu at 81 and Andhra Pradesh at 50.

The death toll reached 37 each in Karnataka and Punjab and 35 in Telangana.

Jammu and Kashmir has reported 15 fatalities due to the disease, Haryana has 14 deaths while Bihar has registered nine and Kerala and Odisha each have reported four deaths.

Jharkhand, Chandigarh and Himachal Pradesh each have recorded three COVID-19 fatalities, while Assam has reported two deaths.

 Meghalaya, Uttarakhand and Puducherry have reported one fatality each, according to the data provided by the ministry.

According to the ministry's website, more than 70 per cent of the deaths are due to comorbidities, the existence of multiple disorders in the same person.

According to the health ministry's data updated in the morning, the highest number of confirmed cases in the country are from Maharashtra at 35,058, followed by Tamil Nadu at 11,760, Gujarat at 11,745, Delhi at 10,054, Rajasthan at 5,507, Madhya Pradesh at 5,236 and Uttar Pradesh at 4,605.

The number of COVID-19 cases has gone up to 2,825 in West Bengal, 2,474 in Andhra Pradesh and 1,980 in Punjab.

It has risen to 1,597 in Telangana, 1,391 in Bihar, 1,289 in Jammu and Kashmir, 1,246 in Karnataka and 928 in Haryana.

Odisha has reported 876 coronavirus infection cases so far, while Kerala has 630 cases. A total of 223 people have been infected with the virus in Jharkhand and 196 in Chandigarh.

Tripura has reported 167 cases, Assam has 107, Uttarakhand and Chhattisgarh have 93 cases each, Himachal Pradesh has 90 and Ladakh has registered 43 cases so far.

Goa has reported 38 COVID-19 cases, while the Andaman and Nicobar Islands has registered 33 infections.

Puducherry has registered 18 cases, Meghalaya has 13 and Manipur has seven cases. Mizoram, Arunachal Pradesh and Dadar and Nagar Haveli have reported a case each till how.

"814 cases are being reassigned to states," the ministry said on its website, adding "our figures are being reconciled with the ICMR".

State-wise distribution is subject to further verification and reconciliation, it said.

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Agencies
July 31,2020

New Delhi, Jul 31: With the highest single-day spike of 55,079 COVID-19 cases in the last 24 hours, India's coronavirus tally breached the 16 lakh mark on Friday, informed the Union Ministry of Health and Family Welfare.

With this latest spike, the total cases in the country stand at 16,38,871. Among these cases 5,45,318 are active. A total of 10,57,806 patients have been cured/discharged/migrated.

779 deaths due to COVID-19 have been reported in the country in the last 24 hours, taking the death toll to 35,747.

As per the Union Health Ministry, Maharashtra has a total of 1,48,454 active cases and recorded 14,729 deaths due to COVID-19.
Tamil Nadu has a total of 57,962 active cases and 3,838 deaths in the state.

Delhi has a total of 10,743 active cases and 3,936 deaths.

The Indian Council of Medical Research on Friday informed that a total number of COVID-19 samples tested up to 30th July is 1,88,32,970 including 6,42,588 samples tested yesterday.

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