Financial Daily from THE HINDU group of publications
Friday, Jul 19, 2002
Financial Daily from THE HINDU group of publications Friday, Jul 19, 2002 |
|
|
|
|
|
Logistics
-
Shipping SCI to enter into contract with HPCL Our Bureau
NEW DELHI, July 18 SHIPPING Corporation of India (SCI) will enter into a contract with the state-owned oil refiner, Hindustan Petroleum Corporation Ltd (HPCL), for carrying its crude oil from the Persian Gulf and also for transportation of indigenous crude (Ravva crude) for a six-month period with an option for two extensions of three months each. "The freight and demurrage charges for the deal will be market-related and as mutually agreed upon between SCI and HPCL'', Government sources said. The freight charges have been worked out through an interpolation of AFRA (average freight rate assessments) compiled by London Tanker Brokers Panel Ltd. SCI had signed a similar contract with Bharat Petroleum Corporation Ltd (BPCL) for carrying its crude oil from the Persian Gulf and that of its subsidiary, Kochi Refineries Ltd (KRL), as well as the coastal transportation of Bombay High crude. Both these deals were finalised through negotiations though the state-owned carrier, which is up for privatisation, had lost its Government-granted rights to carry crude for the state-owned oil refiners on April 1 this year, when the Government deregulated the petroleum sector. "With its diversified tonnage, SCI can cater to the requirement of crude imports and the coastal transportation requirements of all state-owned oil refineries", the sources said.
Send this article to Friends by E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|