Latest news with #India-flagged
Yahoo
4 days ago
- Business
- Yahoo
Nayara Energy seeks ships from India to ferry refined fuels, Indian government source says
By Nidhi Verma NEW DELHI (Reuters) -Russia-backed private refiner Nayara Energy, which was sanctioned by the European Union last month, has sought help from India's shipping ministry to get vessels for the movement of its refined fuels, a government source said on Thursday. Sanctions-hit Nayara is struggling to get vessels for the supply of refined fuels for its retail stations in India. The private refiner has already cut crude runs at its refinery. Since EU's sanctions, Nayara has faced shippers asking for termination of contracts and Microsoft briefly suspending critical services. The ministries of shipping, oil and foreign affairs will shortly meet to look into Nayara's request, the source told reporters after a meeting with Nayara officials. New Delhi is exploring possibilities of arranging India-flagged vessels of local companies for the private refiners. Vessel owners are citing problems including availing insurance cover for undertaking voyages for Nayara, the source added. (Writing by Hritam Mukherjee; Editing by Sonia Cheema and Nivedita Bhattacharjee) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
4 days ago
- Business
- Time of India
Nayara Energy seeks ships from India to ferry refined fuels, Indian government source says
Russia-backed private refiner Nayara Energy , which was sanctioned by the European Union last month, has sought help from India's shipping ministry to get vessels for the movement of its refined fuels , a government source said on Thursday. Sanctions-hit Nayara is struggling to get vessels for the supply of refined fuels for its retail stations in India. The private refiner has already cut crude runs at its refinery. Since EU's sanctions, Nayara has faced shippers asking for termination of contracts and Microsoft briefly suspending critical services. The ministries of shipping, oil and foreign affairs will shortly meet to look into Nayara's request, the source told reporters after a meeting with Nayara officials. New Delhi is exploring possibilities of arranging India-flagged vessels of local companies for the private refiners. Vessel owners are citing problems including availing insurance cover for undertaking voyages for Nayara, the source added.
India Today
4 days ago
- Business
- India Today
Nayara Energy seeks ships from India to ferry refined fuels: Report
Russia-backed private refiner Nayara Energy, which was sanctioned by the European Union last month, has sought help from India's shipping ministry to get vessels for the movement of its refined fuels, a government source said on Nayara is struggling to get vessels for the supply of refined fuels for its retail stations in India. The private refiner has already cut crude runs at its EU's sanctions, Nayara has faced shippers asking for termination of contracts and Microsoft briefly suspending critical services. The ministries of shipping, oil and foreign affairs will shortly meet to look into Nayara's request, the source told reporters after a meeting with Nayara Delhi is exploring possibilities of arranging India-flagged vessels of local companies for the private refiners. Vessel owners are citing problems including availing insurance cover for undertaking voyages for Nayara, the source added. - Ends
Economic Times
4 days ago
- Business
- Economic Times
Nayara Energy seeks ships from India to ferry refined fuels, Indian government source says
Nayara Energy, an EU-sanctioned, Russia-backed private refiner, has requested assistance from India's shipping ministry to secure vessels for transporting its refined fuels. Facing difficulties in obtaining ships for its retail fuel supply within India, Nayara has already reduced its refinery's crude processing. Tired of too many ads? Remove Ads Russia-backed private refiner Nayara Energy , which was sanctioned by the European Union last month, has sought help from India's shipping ministry to get vessels for the movement of its refined fuels , a government source said on Nayara is struggling to get vessels for the supply of refined fuels for its retail stations in India. The private refiner has already cut crude runs at its EU's sanctions, Nayara has faced shippers asking for termination of contracts and Microsoft briefly suspending critical ministries of shipping, oil and foreign affairs will shortly meet to look into Nayara's request, the source told reporters after a meeting with Nayara Delhi is exploring possibilities of arranging India-flagged vessels of local companies for the private refiners. Vessel owners are citing problems including availing insurance cover for undertaking voyages for Nayara, the source added.
Gulf Today
03-05-2025
- Business
- Gulf Today
India bans all imports from Pakistan, suspends inbound mail
India said on Saturday it has banned the import of goods originating from or transiting via Pakistan and suspended the exchange of inbound mail and parcels as diplomatic tensions between the two nations flared in the wake of a deadly attack in Jammu and Kashmir. The Indian government also barred Pakistan-flagged ships from entering any of the nation's ports. According to a notification by the Commerce Ministry, "Direct or indirect import or transit of all goods originating in or exported from Pakistan, whether or not freely importable or otherwise permitted, shall be prohibited with immediate effect, until further orders. "This restriction is imposed in the interest of national security and public policy. Any exception to this prohibition shall require prior approval of the Government of India," said the notification. A provision in this regard has been added in the Foreign Trade Policy (FTP) 2023 "to prohibit direct or indirect import or transit of all goods originating in or exported from Pakistan," it said in the notification dated May 2. As per official data, India's exports to Pakistan fell 56.91 per cent year-on-year between April 2024 and February 2025 to $491 million, while there were no imports. Top exports to Pakistan in FY25 included drug formulations, sugar, bulk drugs, residual chemicals and auto components. In another development, according to a directive from the Ministry of Ports, Shipping and Waterways, Pakistan-flagged ships have been banned from entering Indian ports. The directive also prohibited India-flagged vessels from docking at ports in Pakistan. Citing national security concerns, the directive was implemented to "ensure the safety of Indian assets, cargo, and related infrastructure, in public interest and for the interest of Indian shipping". The directive is effective immediately and will remain in force until further notice. "The objective of the Act is to foster the development and ensure the efficient maintenance of an Indian mercantile marine, in a manner best suited to serve national interests," the order issued by the ministry said. "A ship bearing the flag of Pakistan shall not be allowed to visit any Indian port, and an Indian-flagged ship shall not visit any port of Pakistan," the order further stated. According to the ministry, the action has been taken in the interest of "safety of Indian assets, cargo, and connected infrastructure", as well as to further the objectives of Indian shipping. Any exemption from the order will be examined and decided on a case-by-case basis. Indo-Asian News Service
