'The coronavirus impact is much bigger than what the market had predicted. We are helpless and simply watching the market at present. Nothing can be done,' said Anil Devli, chief executive officer (CEO) of Indian National Shipowners' Association (INSA).
The top court termed the Rs 10 crore compensation paid by the Republic of Italy over and above the payment already made as "reasonable and adequate".
India may see a structural shift in supplies of crude oil with Russia emerging as a key source of fuels, a development that reduces New Delhi's dependence on West Asian oil, gives Indian refiners better bargaining power with price-setter Saudi Arabia, and improves overall energy security. The unexpected surge in supplies of Russian crude in the last few months, unthinkable until the war in Ukraine, may also deliver other unforeseen gains such as boosting exports of refined fuels to Europe, which historically has counted on Russian shipments. India has jumped on to the bandwagon of opportunistic buying of Russian crude but if calibrated carefully, Urals crude can be a long-term asset for India refiners.
Italy will take up at the "international level" the trial of two marines in India for the killing of two Indian fishermen, Premier Enrico Letta has said.
The Indian Navy has a big role to play in support of our strategic objectives in the Indian Ocean. The increasing Chinese presence in the Indian Ocean is a matter of concern and need to be factored. Hence, the requirement of an Aircraft Carrier is a foregone conclusion, asserts Commodore Venugopal Menon (retd).
Captain Menon, Master of the oil tanker 'Sampurna Swarajya' of Shipping Corporation of India, is to receive the 2016 IMO Award for Exceptional Bravery at Sea for her role in the dramatic rescue of seven fishermen from a sinking fishing boat in tumultuous seas.
The Supreme Court on Wednesday allowed Massimiliano Latorre, the second Italian marine accused of killing two Indian fishermen off the Kerala coast in 2012, to remain in his country till the international arbitral tribunal decided the jurisdictional issue.
The Central government on Friday told the Supreme Court that it has deposited with the top court Rs 10 crore paid by the republic of Italy as compensation to the families of the two Kerala fishermen who were shot dead in 2012 by two Italian marines aboard the MV Enrica Lexie ship -- an Italian flagged oil tanker -- in lieu of closure of criminal cases against the two navy personnel in India.
Hours after India decided not to prosecute two of its marines accused of killing Indian fishermen under the strict anti-piracy SUA law, Italy said the decision was the "fruit of Italian firmness".
Sources aware of the development said as part of the project, the airline had signed an agreement with Reliance Industries Ltd, which would extend quality control services at its coastal terminals for ATF imported by the airline.
The attack did not result in any human losses, it said, adding that the remnants of the intercepted and destroyed ballistic missiles fell in separate areas around Abu Dhabi.
The Supreme Court on Friday directed the Centre to deposit in its account the compensation given by Italy for the kin of two Indian fishermen killed by Italian Marines off the Kerala coast in February 2012.
the SC said, "We want that adequate compensation be paid to the victims' family".
The capacity of the proposed facility, part of Indian Oil's Rs 56,000-cr investment plan during the 12th Plan, will be five mt a year.
Taking note of a plea by some fishermen seeking compensation, the Supreme Court on Thursday directed the Kerala high court not to disburse any amount from the Rs 2 crore earmarked for the owner of fishing boat St Antony in which two fishermen were killed by Italian marines in 2012.
The Centre said that the arbitration under United Nation Convention on the Law of Sea (UNCLOS), which was instituted on a request from the Republic of Italy has delivered its Award on May 21, 2020.
The shift comes as the gap between the international benchmark Brent and the Middle East price marker narrows
The year 2004 has been pretty volatile for the global shipping industry, including the Indian players, as freight rates were impacted by uncertain moods of the oil market and a natural disaster towards the end of the year.
A Turkish oil-chemical tanker with an all Indian crew of 24 has been hijacked by pirates off the coast of the West African nation Gabon.
'If it weren't for Om Puri, a whole range of our big city experiences wouldn't have found their honest representations on the screen.'
The applications range from disaster recovery to predicting demand and understanding customer choices using artificial intelligence.
As tensions between the armies of India and China at the LAC show no sign of ebbing, both sides have significantly ramped up the presence of their troops.
In a blow to Italy's attempt to internationalise the case of two Italian marines being tried in India for killing two fishermen, UN Secretary-General Ban Ki-moon has asked Rome to resolve the issue bilaterally.
"Under the CO-JEET" plan, personnel of the three wings of the armed forces -- the Army, the Indian Air Force and the Navy -- have been pressed into service to help restore oxygen supply chains, set up COVID beds and provide help to the civilian administration in its fight to control the pandemic," said the Lt General, whose post of deputy chief integrated defence staff (medical) comes under the Chief of Defence Staff.
A relatively dry spell in Chennai and its neighbourhood brought relief to the flood affected residents and rescue agencies, as hopes of water receding fast went up.
A 19-year-old Indian was killed as Nepal police opened fire on people demonstrating against the new Constitution near the Indo-Nepal border, hours after security forces baton-charged Madhesi protesters and evicted them from a key bridge in the area in a pre-dawn swoop.
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
Admiral describes it as 'a path-breaking change'; defence ministry official disagrees.
'It has taken bombings in Beirut, bombing of a Russian airliner and now terror attacks in Paris for people to realise that we are not going to achieve our objectives of destroying ISIS if we drive in second gear. We need to get into top gear.'
"Whenever we do compromise those rights, the world is worse off," Pompeo said.
Union Home Minister Amit Shah on Monday reviewed the preparations for Cyclone Yaas including the evacuation of people on the high seas as well as in vulnerable coastal areas and the safety of COVID-19 facilities.
The contrived controversy over the so-called blockade of the India-Nepal border has obscured the perilous path on which the current ruling elite in Nepal are taking the country towards.
She will be the first woman to receive the International Maritime Organisation Award for Exceptional Bravery at Sea for her dramatic rescue.
The United States wants India to wait for a final nuclear deal between Tehran and world powers before actively engaging with Tehran.
The known unknowns in Prime Minister Modi's Saudi visit assume great significance, says Ambassador M K Bhadrakumar.
'The fact that Modi and Xi exuded confidence to accelerate the negotiations for a border settlement alone underscores that the Russia-India-China triangle has become very dynamic,' notes Ambassador M K Bhadrakumar.
Devastating Cyclone Hudhud caused damage worth thousands of crores in Visakhapatnam and other storm-hit areas of the coast, Andhra Pradesh Chief Minister N Chandrababu Naidu said in the port city on Tuesday.
Few readers will remember the socialist utopia of Indira Gandhi when food queues were the norm even for the middle class and tankers supplied water at odd hours of the night twice a week. Is that what you are trying to return us to, dear Congress, asks Jaideep Prabhu
'Visiting my friend in his affluent locality, I realised that the Delhi weather had become the great equaliser.' 'Pollution was always in the air, everywhere, and had become the primary subject of all conversations,' notes Ambassador B S Prakash.
'While dairy farmers are suffering from low prices, consumers are paying a high price for milk.'
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