Iran Detains Tanker Carrying Iraqi Crude To India [UPDATE]

UPDATE: According to tracking data gathered by Windward Maritime Analytics Services Company, the Desh Shanti is underway again and steaming toward the Strait of Hormuz. By Nidhi Verma NEW DELHI, Aug 15 (Reuters) - An Indian ship carrying Iraqi crude has been detained by Iran in its territorial waters due to pollution concerns, the head of the refiner buying the oil … [Read more...]

STX Dalian Delivers Panamax Bulker to SCI, More on the Way

The first of four Panamax bulk carriers ordered by the Shipping Corporation of India Ltd. (SCI) were delivered last Friday by STX (Dalian) Shipbuilding Co. Ltd., China. These vessels were ordered as part replacement of SCI's Daewoo series Handymax bulk carriers which were built in 1986/87. These vessels would be of higher capacity in the Panamax size range of above 80,000 … [Read more...]

Iranian Oil Breaks the Gauntlet with Indian Tankers, and Insurance

MUMBAI--United India Insurance Co. has agreed to provide protection and indemnity cover to Indian tankers carrying oil from Iran with General Insurance Corp. offering reinsurance, two people with knowledge of the matter said Tuesday. The offer bring some relief to Indian shipping companies that aren't getting covers from European insurers since July 1 for carrying shipments … [Read more...]

Iranian Crude is Still Finding its Way to India, SCI Largely Unaffected by Sanctions

SINGAPORE (Dow Jones)--Shipping Corp. of India Ltd. (523598.BY), India's largest shipping company by fleet size, doesn't expect any significant impact on its financial performance this fiscal year due to restricted insurance coverage for carriers shipping crude oil from Iran, Chairman and Managing Director S. Hajara said Monday. Due to the restrictions, the company is faced … [Read more...]