Russian Oil Cargo Discharge at Indian Port Delayed Due to Insurance Scrutiny
A Western-sanctioned vessel with Russian oil destined for Indian Oil Corp has had discharge of the cargo delayed at a port in eastern India due to a hold-up in online verification of insurance cover provided by a Russian insurer, three industry sources with direct knowledge of the matter said.India earlier this year tightened insurance rules for ships calling at its ports, focusing on old and so-called shadow fleet vessels often used to carry Russian oil.Aframax vessel Tiger 6…
Russian Urals Discounts in India Triple Since August as US Sanctions Hit
Discounts for Russian flagship Urals crude in Indian ports have tripled since August against dated Brent as U.S. sanctions drive key buyers away from Moscow-supplied oil, three sources involved in the trade said.The United States last month imposed its toughest sanctions yet on Russia’s energy sector, targeting oil majors Lukoil and Rosneft. Friday marks the deadline for companies to wind down all dealings with the two producers.Urals crude has been a mainstay feedstock for Indian refiners since 2023, when Moscow redirected flows to Asia after the European Union banned Russian energy.
Afghanistan Urges India to Scale Trade in Its Territory
Afghanistan's Taliban government urged India on Thursday to scale up trade and open cargo hubs in its territory, as it strengthens ties with New Delhi and seeks alternatives to Pakistan after repeated border clashes and closures.During talks, Al-Haj Nooruddin Azizi, the Taliban's commerce minister, also asked India to help set up scheduled shipping services to move Afghan goods through the Indian-operated Chabahar Port in Iran, his ministry said.Landlocked Afghanistan has redirected more goods to Iran and Central Asia in recent months after armed clashes shut key crossings with Pakistan.Azizi
Unifeeder, Sagarmala Finance Corporation Limited to Advance Sustainable Coastal Shipping in India
Unifeeder, a DP World company, has signed a Memorandum of Understanding (MoU) with India’s Sagarmala Finance Corporation Limited (SMFCL), a Government of India Enterprise under the Ministry of Ports, Shipping and Waterways to collaborate on developing and scaling commercially sustainable coastal and shortsea shipping services across India.The MoU established a framework for joint action to design and finance coastal shipping corridors that support India’s ambitions to decongest roads, lower logistics costs, and decarbonize transportation.
Drydocks World, Cochin Shipyard Limited Enter Agreement to Develop Ship Repair Cluster in Kerala
Drydocks World, a DP World company, and Cochin Shipyard Limited (CSL) have signed an Agreement of Heads of Terms to evaluate and develop India’s first ship repair cluster at the International Ship Repair Facility (ISRF) in Cochin, Kerala.The MoU was exchanged in the august presence of the Union Minister of Ports, Shipping and Waterways (MoPSW), Shri Sarbananda Sonowal and H.E. Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer of DP World, between Captain Rado Anotolovic…
US, UK Ramp Up Pressure on India to Stop Russian Oil Imports
Western powers have ramped up pressure on Russia's oil sales amid its war with Ukraine as U.S. President Donald Trump said India would stop buying and Britain imposed sanctions on top Russian oil firms.Ukrainian President Volodymyr Zelenskiy is schedule to meet Trump in Washington on Friday to push for military and energy support at a time when Kyiv and Moscow are escalating the war with attacks on energy infrastructure.Indian officials are also in Washington for trade talks, with the U.S.
Tanker Freight Rates for Russian Crude to India Climb
Tanker freight rates for shipping Urals crude from Russia’s western ports to India rose further in late September and early October, tracking a sharp increase in loadings last month, industry sources said.Indian refiners continue to buy Russian oil despite punitive U.S. tariffs on goods imported from India after it defied a demand for it to stop the Russian imports.Crude exports from Russia’s western ports of Primorsk, Ust-Luga and Novorossiisk rose by 500,000 barrels per day in September from August to a record 2.5 million bpd…
World Bank Warns Higher Tariffs on India Will Slow South Asia Growth Next Year
The World Bank said on Tuesday higher tariffs on Indian goods exported to the U.S. would be a drag on South Asia's economic growth rate in 2026, even as it remains shielded in the current year by government spending.The World Bank said growth in South Asia was expected to slow sharply to 5.8% in 2026 from its projection of 6.6% for 2025. Its forecast for the region comprises India, Bangladesh, Sri Lanka, Nepal, Bhutan, and the Maldives."For 2026, the forecast has been downgraded…
Sanctioned Russian Oil Vessel Switches to Indian Port after Adani Group Ban
Sanctioned vessel Noble Walker carrying Russian oil has changed course to India's Vadinar port after the country's Adani Group banned entry of blacklisted ships at its Mundra port, ship tracking data showed on Monday.The Noble Walker, carrying about a million barrels of Russian crude for Indian refiner HPCL Mittal Energy Ltd, was until Friday headed to Mundra, according to shipping reports and data from LSEG and Kpler.The vessel has been blacklisted by the European Union and Britain for breaching sanctions in transporting Russian oil.HMEL did not respond to a Reuters email seeking comment.
India Pledges $680m in Economic Assistance for Mauritius
India agreed on Thursday to provide about $680 million in economic assistance to Mauritius for healthcare, infrastructure and maritime security projects, as New Delhi pushes for greater influence in the Indian Ocean nation in competition with China.The assistance, in the form of grants and lines of credit, also includes support for development and surveillance of the marine protected area of the Chagos archipelago, which houses a U.S.-British air base on the island of Diego Garcia.Britain in May ceded sovereignty of the Chagos Islands to Mauritius…
Doubling of US Tariffs on India Begins Wednesday
U.S. President Donald Trump's doubling of tariffs on imports from India to as much as 50% took effect as scheduled on Wednesday, dealing a serious blow to ties between the two countries that became strategic partners after the turn of this century.A punitive 25% tariff imposed due to India's purchases of Russian oil adds to Trump's prior 25% tariff on many imports from the South Asian nation and is expected to hurt growth in the world's fastest growing major economy.India's trade ministry did not immediately respond to a request for comment.
Indian Refiner Looks to Dark Fleet After Sanctions
Indian refiner Nayara Energy, backed by Russia and under European Union sanctions, is relying on a dark fleet to import oil and transport refined fuels, according to shipping reports and LSEG flows.Nayara, which controls about 8% of India's 5.2 million barrel-per-day refining capacity, has been struggling to transport fuel since being placed under EU sanctions in July, a move that prompted shippers to back out, forcing the refiner to cut its crude runs.India, the world's third-largest oil importer and consumer…
India Continues US Trade Talks Despite Tariff Hike to 50%
India hopes trade talks with the U.S. will continue even as the U.S. hiked tariffs on its exports to 50% due to New Delhi's purchase of sanctioned Russian oil, two lawmakers said on Monday, citing a briefing to a parliamentary panel on foreign affairs.Last week, President Donald Trump imposed an additional 25% tariff on Indian goods due to Delhi's continued purchase of Russian oil, bringing the total duty on Indian exports to the U.S. to 50% - among the highest of any American trading partner."Our relations with the U.S.
Estimated 55% of Indian Goods Exported to US Will Face Tariffs
About 55% of India's merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration, the Indian government said on Monday.Last week, Trump imposed an additional 25% tariff on Indian goods as punishment for Delhi's purchases of Russian oil. That raised the total duty on Indian exports to the U.S.
US Imposes Additional 25% Tariff on Indian Goods
U.S. President Donald Trump issued an executive order on Wednesday imposing an additional 25% tariff on goods from India, saying the country directly or indirectly imported Russian oil.The additional tariffs mean India will face the highest levy along with Brazil, putting it at a significant disadvantage against regional competitors such as Vietnam and Bangladesh.The tariffs are scheduled to kick in 21 days from the date of the executive order.BRIAN JACOBSEN, CHIEF ECONOMIST, ANNEX WEALTH MANAGEMENT…
India Oil Corp Buys US and Middle Eastern Crude As Trump Criticizes Russian Purchases
Indian Oil Corp has bought 7 million barrels of crude from the United States, Canada and the Middle East, four trade sources said on Monday, as U.S. President Donald Trump ramped up his criticism of the country over its purchases of Russian oil.India is the biggest buyer of seaborne crude from Russia, which is under Western-led sanctions over its war in Ukraine.Its main refiners paused buying Russian oil last week as discounts to other suppliers narrowed after Trump threatened hefty tariffs on imports from countries that make any such purchases, Reuters reported last week.
Philippines, India Navies Hold First Joint Sail in South China Sea
The Philippine and Indian navies have sailed together for the first time in the South China Sea, officials said on Monday, as President Ferdinand Marcos left Manila for New Delhi for a state visit.The Philippines has conducted "maritime cooperative activities" with foreign navies since late 2023 as part of its push to counter China's expansive claims in the waterway, including joint passages with treaty ally the United States, as well as Japan, Australia, France and Canada.An Indian official said the passage was in the West Philippine Sea and part of a bilateral exercise with Manila…
RAD Propulsion Introduces New Partnerships Across Three Key Regional Markets
RAD Propulsion, a leader in electric marine propulsion systems, announced the expansion of its international dealer network with new strategic partnerships in the Netherlands, India and Japan. Energyboats will serve as RAD's official dealer in the Netherlands, focusing specifically on the Benelux region. Energyboats specializes exclusively in 100 percent electrically powered boats and works only with manufacturers that take the electric motor as their starting point. "In our view…
Cochin Teams Up with KSOE
India’s Cochin Shipyard Limited (CSL) has signed a Memorandum of Understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering (KSOE) that sets the stage for long term cooperation between the two companies. They have agreed to jointly explore newbuilding opportunities in India and abroad and to share technical expertise.KSOE oversees the operations of some of the world’s largest shipyards, including Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries.CSL has built a robust reputation as a key player in India’s maritime sector.
India Extends Import Curbs on Low-Ash Metallurgical Coke for Six Months
The Indian government has extended import curbs on low-ash metallurgical coke, a steelmaking raw material, for six months starting July, a government order said on Monday, dealing a blow to steelmakers who oppose restrictions on overseas purchases.India, the world's second-largest crude steel producer, will set country-specific import quotas and cap purchases at 1.4 million metric tons from July 1 to December 31, the order said.Reuters in February reported that India could extend curbs on low-ash met coke imports to encourage local steel mills to use domestic suppliers.
Anti-Submarine Shallow-Water Craft Delivered to the Indian Navy
The 'INS Arnala,' classed by Indian Register of Shipping (IRS) and the first in a series of eight Anti-Submarine Warfare Shallow Water Crafts (ASW SWCs), has been delivered to the Indian Navy. The vessel was delivered by Garden Reach Shipbuilders and Engineers (GRSE) Ltd, marking a milestone in India's journey towards self-reliance in defense production.‘INS Arnala’ has been designed and constructed in compliance with the Naval Classification Rules of the Indian Register of Shipping (IRS) and has demonstrated the successful collaboration between Indian Defence Public Sector Undertakings…
India Diesel Exports to Southeast Asia in May at Highest in Four Years
India's diesel exports to Southeast Asia for May are expected to be the highest in at least four years, according to shiptrackers and three trade sources, as traders eyed higher profits in Asia and as higher freight costs deterred shipments to Europe.Increased diesel exports from India, one of the largest suppliers in the region, is cooling spot premiums for the fuel in Asia and pressuring derivatives markets, while tightening the fuel's availability in Europe and supporting prices there.Shipments on the India-Southeast Asia route climbed to 600…
As Vessel Sinks Off India, Race is on to Contain Oil Spill
Authorities in the southern Indian state of Kerala are racing to contain an oil spill in the Arabian Sea after the Liberia-flagged container vessel MSC ELSA3 sank over the weekend, releasing fuel and more than 100 cargo containers into the water.The vessel was en route from Vizhinjam to Kochi when it capsized approximately 38 nautical miles off the Kerala coast on Saturday. All 24 crew members were safely rescued, according to local officials. The cause of the incident has not yet been disclosed.The Kerala chief minister’s office confirmed Sunday that the entire ship is now submerged.
