GN Bureau | October 26, 2015
The government is considering a proposal to make it mandatory for the public sector undertakings to import of commodities, including oil and coal, to engage the services of Shipping Corporation and other domestic companies. The importing firms may be told to sign a 5 year contract with them for the inbound cargo.
The proposal is similar to the practice being followed in China, Japan and Korea. This is to protect the domestic shipping industry. “An inter-ministerial group is at present considering the proposal that government PSUs, based on some international benchmarks, could give domestic shipliners contracts for cargo imports for five years,” an official source said.
The proposal involves giving 50% or more of the total cargo imports by oil, coal and steel etc PSUs to domestic shipliners, the source added. Five year contracts with PSUs would provide confidence to the lenders to provide assistance to Indian companies
This would shift freight worth billions of dollars to domestic shipliners like Shipping Corporation of India (SCI), Great Eastern Shipping and Mercator Lines, among others.
Such a move, apart from domestic shipliners, would also encourage Indian seafarers and boost the domestic industry, he added. At present, Indian vessels barely account of 12% of EXIM trade.
Three in four abortions in India are through drugs from chemists and informal vendors rather than from health facilities, said a report in The Lancet. An estimated 15.6 million abortions were performed in the country in 2015, reports The Lancet in its latest released paper on ‘Inciden
Prime minister Narendra Modi’s seaplane ride in Gujarat is certainly unique, but it is not as historic as it is being made out to be. Gujarat chief Minister Vijay Rupani said this is for the first time in the history of the country that a sea-plane will land on a water body and that wi
GAIL has awarded a contract for laying 520 km gas pipeline connectivity from Dobhi (Bihar) to Durgapur (West Bengal), including 120 km line to Jamshedpur (Jharkhand). With these awards, major contracts for phase two of the Jagdishpur-Haldia and Bokaro-Dhamra natural gas pipeline (JHBDPL) project have
IndianOil corporation (IOCL) has launched Indane LPG cylinder refill booking through social media platforms like Facebook and Twitter. Director (marketing) Gurmeet Singh emphasised on the need to leverage technology and the growing social media to provide simpler and effective options to cu
Forensic DNA has emerged as the world’s greatest crime fighting technology. Many countries are effectively using forensic labs and protocols to collect, test and compare DNA at crime scenes with that of suspects with promising results. While the law machinery the world over is increasi
Do you think sea-planes can be used to improve air connectivity?