Russia has welcomed India's decision to not support the price cap on Russian oil announced by G7 and its allies and offered it cooperation on leasing and building large-capacity ships to overcome the ban on insurance services and tanker chartering in the European Union and Britain to continue buying discounted oil. The offer came as Russian Deputy Prime Minister Alexander Novak held a meeting with the Indian Ambassador to Moscow, Pavan Kapoor, on Friday. "The Deputy Prime Minister welcomed India's decision not to support the price cap on Russian oil, which was imposed on December 5 by the G7 countries and their allies," the Russian foreign ministry said in a statement.
MV Ganga Vilas will begin its journey from Varanasi and sail around 3,200 km in 51 days to reach Dibrugarh in Assam via Bangladesh, traversing across 27 river systems in the two countries, it said.
Exporters are readying back-up routes to send their shipments to the nations belonging to the Commonwealth of Independent States (CIS), including Russia, as the war in Ukraine continues to intensify. Three routes are being explored. The first is the China route using Qingdao port. The second is the International North-South Transport Corridor (INSTC) route that connects Mumbai to Moscow via Iran and Azerbaijan.
In a repeat of the M V Wisdom episode, a much-smaller cargo vessel ran aground near the Juhu beach in north-west Mumbai on Sunday, officials said.
Adheeb was not allowed to enter India since he did not possess valid documents.
A source closely involved in logistical arrangements said the movement of vaccine doses is likely to start from early Tuesday morning through road and air routes amid elaborate police security.
The Gujarat Anti-Terrorist Squad has seized 75.3 kg of heroin estimated to be worth Rs 376.5 crore from a container near the Mundra port in Kutch district, an official said on Tuesday.
As cinemas remain shut and watching movies on big screen still a distant dream, OTT platforms are keeping us distracted from the pandemic with its steady supply of content.
Search operations are in full swing for the missing crew members of the Indian vessel Prathibha Cauvery, which ran aground following strong winds due to Cyclone Nilam, which made landfall on the southeast coast on Wednesday evening.
Three temperature-controlled trucks rolled out of the Serum Institute gates shortly before 5 am and left for Pune airport, from where the vaccines will be flown across India.
JNPT, the country's largest container port, would soon move into congestion if cargo does not get lifted by importers in the next few days.
Three Chinese astronauts on Thursday entered the country's new space station after their spaceship successfully docked with it, just over seven hours after the launch from the Gobi Desert, in a major milestone for the Communist giant's space exploration plans and its bid to become a leading space power.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
Modi's'Make in India' drive launched last September included laying out a model of "port-led" development that would support industrial growth.
The status of the current submarine force level is alarming and we need to address the threat perceptions expeditiously. Critical decisions pertaining to national security cannot be delayed any further due to the rapidly changing maritime threat perceptions and growing strategic importance of the Indian Ocean region, asserts Commodore Venugopal Menon (retd).
The 80-odd projects completed till now are already valued at Rs 14,000 crore.
Tea planters and exporters are "extremely worried" over the possible impact on their shipments to Russia, India's second largest buyer of tea, in the wake of the Russia-Ukraine crisis. Western sanctions and disruption of payments in dollars as well as transhipments to Russia are expected as a fall-out of Russia launching an attack on Ukraine on Thursday. "The Russian market for Indian tea is extremely important as there are payment issues for shipments to Iran, another vital tea export destination. "Around 18 per cent of India's tea shipments go to Russia," India Tea Association chairperson Nayantara Palchoudhuri told PTI.
China's state-run Sichuan Airlines has suspended all its cargo flights to India for 15 days, causing major disruption to private traders' efforts to procure the much-needed oxygen concentrators and other medical supplies from the country despite Beijing reiterating its readiness to help India to deal with the latest surge of COVID-19 cases.
There is no word yet on the progress of rescue operations for the accommodation barge SS-3 and the Sagar Bhushan oil rig.
The navy said that so far the 270,000 metric tonnes of crude oil it was carrying had not been affected by the fire.
Big-ticket investments taking off is crucial for Kerala given the years it lost to labour militancy courtesy the same political forces currently in power, explains Shyam G Menon.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
With development of the Vadhavan port, India will break into the countries with top 10 container ports in the world.
'If the almost literally heart-stopping Suez block has any positive outcome, it is to be hoped that it will accelerate the setting up of a fab (perhaps Taiwanese) in India,' asserts Rajeev Srinivasan.
On Thursday morning, Coast Guard officials rescued as many as 30 crewmembers from MV RAK, even as 3/4th of the 225 meters long vessel sunk into the choppy waters of the Arabian Sea. MV Rak was carrying 60,054 meteric tonne of coal. Toral Varia, brings you a blow-by-blow account of the rescue operation.
Shipments from Russia rose nearly 33 per cent to $1.1 billion in March from $831.17 million in the previous month, which was when the country mounted aggression on Ukraine and faced sanctions from Western nations, the data accessed by Business Standard shows. Growth in imports was largely on account of oil, people aware of the matter said. The Department of Commerce is learnt to have written to the Ministry of Petroleum and Natural Gas (MoPNG), seeking details of imports, including the payment mechanism, which India has not made public.
Taking a dig at China, Defence Minister Rajnath Singh on Sunday said 'some irresponsible nations' with their narrow partisan interests and hegemonic tendencies are coming up with wrong definitions of the UN Convention on the Law of the Sea.
The issue is set to be discussed early next week as the commerce department meets with industry bodies to discuss the widening supply gap for key imports.
There are very few people in the world who qualify to be called a living legend. Astad Deboo is one of them.
A spokesman for Gibraltar's government also confirmed that police proceedings against four members of the crew had ended.
On Thursday morning, Coast Guard officials rescued as many as 30 crewmembers from the cargo vessel MV RAK, even as 3/4th of the 225 meter-long vessel had sunk into the choppy waters of the Arabian Sea. MV Rak was carrying 60,054 meteric tonne of coal. Toral Varia, brings you a blow-by-blow account of the rescue operation.
Minesweepers are small naval warships that detect and destroy underwater mines and are considered vital for keeping the critical sea lanes safe for movement of essential cargo, including crude oil.
While acknowledging Shivaji's naval contributions, questions are being raised about the inadequate acknowledgement of Chola sea-power in southern Tamil Nadu, which dates back by a few centuries, explains N Sathiya Moorthy.
Russia on Thursday said it was not bothered at a possible price cap on its crude oil proposed by the West, saying Moscow will negotiate directly with its partners like India and China as the price should be decided between the producers and consumers, and "not someone who just decided to punish someone." Members of the G7 have agreed to impose a price cap on Russian oil in a bid to hit Moscow's ability to finance the war in Ukraine. Countries want to reach an agreement ahead of December 5, when Europe's embargo on Russian crude travelling by sea takes effect.
A few years ago, when top officials of Indian state-run refiners went to Dubai to negotiate a crude oil supply contract, a senior official from state-owned Saudi Aramco told them, "We can negotiate on anything, but I am the last man standing for you. "Nobody can offer the range of crudes we do with certainty," an official who was part of the negotiating team recalls. Perhaps that explains why Saudi Arabia is less concerned about losing its place as India's premier oil supplier to an upstart like Russia, which emerged from nowhere to become India's biggest crude oil supplier in September and October.
The operation was jointly carried out by the Indian Coast Guard (ICG) and the Department of Revenue Intelligence (DRI) off Agatti coast in Lakshadweep, sources told PTI.
GAIL (India) Ltd has pre-poned the supply of gas from the US and is looking to contract more LNG next year as it doubles down efforts to secure affordable energy supplies to meet the needs of Asia's third-largest economy, chairman Manoj Jain said. India's No.1 gas transporting and marketing firm has long-term liquefied natural gas (LNG) supply contracts from the US to Australia and with Russia, supplementing domestic gas supplies. "In 3Q (October-December 2021) we preponed a couple of cargoes (LNG shiploads) from supplies that we were to receive next year and we did it again in the current quarter," Jain told PTI. This is because US LNG costs one-third of the price of gas available in the spot or current market.
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