India and Bangladesh enter into a new trade petroleum agreement
The Dollar Business Bureau India and Bangladesh has entered into a new age of petroleum trade, when a train loaded with High Speed Diesel is making its way to Bangladesh starting Thursday. The 42 wagon train is carrying around 2500 metric tons of High Speed Diesel. It was inaugurated by Indian Minister of State for Petroleum and Natural Gas, Dharmendra Pradhan on Thursday at Siliguri Marketing Terminal of Numaligarh Refineries Limited (NRL) in West Bengal. The rail shipment will travel over 516 km from Siliguri to Parbitipur in Bangladesh, which would be received by H V Shringla, High Commissioner of India to Bangladesh and Hamid, Hon'ble Minister of Power, Energy and Mineral Resources, Government of Bangladesh. Pradhan said, “This consignment is a symbolic gesture ...
Norms relaxed on diesel imports through old ships to promote ship breaking industry
The Dollar Business Bureau In a deliberate move to give fillip to the ship breaking industry, the government has relaxed norms for Import of High Speed Diesel (HSD) and Light diesel oil (LDO), brought on board in the old ships/vessels for purpose of breaking. Prior to this development, state trading enterprises were taking care of such imports. On an average, oil tankers accounted for 40% of the volumes scrapped during 1993-2004. Some 250 Indian companies are involved in ship-scrapping, mostly along the Gujarat coast. The ship-breaking industry in India is likely to witness hectic activity in the next 10 years with the European Union’s proposed accelerated phase-out of single-hull tankers (20,000 to 30,000 DWT — dead weight tonnage). According to ...
