Popular Articles

M&M net vaults 849% to Rs 413 cr
Tractor and utility vehicle (UV) manufacturer, Mahindra & Mahindra (M&M), today posted a net profit of Rs 413 crore for the quarter ended December 31, 2009. This was an increase of 849 per cent, aided by the low profit base of Rs 43 crore in the same quarter of the previous financial year.

RBI governor allays concerns over capital inflows
The Reserve Bank of India (RBI) today allyed concerns about capital inflows building an asset bubble and said it is keeping a vigil on these.

News of the day

United Breweries Q1 net up 57% YoY
United Breweries (UBL), India"s largest brewery controlled by Indian billionaire Vijay Mallya, has posted a strong 57 per cent increase in net profit to Rs 35.5 crore for the first quarter of current fiscal as against the corresponding period of last fiscal. Net sales at Rs 556.4 crore was up 17 per cent, powered by a 25 per cent growth in strong beer.
Home Business

PPT seeks Centre's nod for action against owner of sunken vessel

The Paradeep Port Trust (PPT) authorities have sought the intervention and permission from the Centre and the director general of shipping to initiate legal action against the owner and the management company of the vessel MV Black Rose, which sank near the port two weeks back. - Oil spill from sunken ship raises pollution concerns - Vietnamese vessel safe, says PPT - Concession agreement for PPT coal berth - PPT aims to handle 100 mt cargo - PPT plans 10 mt oil berth at Rs 173cr - PPT aims at 126 MT cargo handling capacity by 2011-12 PPT wanted to initiate legal action against the owner and the management company of the sunken vessel owing to their non-cooperation in retrieving oil from the vessel. Sources said that the sunken vessel was operating without any valid document and the vessel owner had submitted fake insurance papers. The vessel was owned by Black Rose Maritime Limited, a Singapore-based firm while it was managed by PANCAR Shipping Limited, also based out of Singapore. As per the norms, it is the responsibility of the vessel owner to take all measures to check oil spillage but the owner of the ship is yet to reach here, said Gauri Prasad Biswal, deputy conservator, PPT . PPT has consulted a marine lawyer to take legal action them (vessel owner and its management company), said Biswal. On the other hand, the marine officials of PPT have taken all precautionary measures to check the oil spill from the vessel. They have spread boom around the sinking vessel to prevent the spread of the oil leakage to other parts of the sea so as to avoid marine pollution. PPT pollution response tugs and Coast Guard vessels have also been pressed into service to check oil spill from the sunken vessel. Meanwhile, PPT has invited two global tenders to retrieve oil from the sunken vessel. The first tender is related to closure of air pipe of the oil tank of the sunken vessel and the second tender pertains to evacuation of 924 tonnes of furnace oil containing from the vessel’s oil tank to Paradeep coast by pipe line. The deadline for responding to the first and second tenders is September 26 and October 5 this year. Besides, PPT has sought the cooperation of national and international experts to retrieve from sunken vessel.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):