The Hindu Business Line : Navy to monitor vessel movement

THE Mercantile Marine Department jointly with the Navy has worked out a strategy to ensure safety of Indian ships carrying crude from the Gulf countries, a senior official of the department said on Thursday.

The Gulf region has become risk-prone after the US began attacks on Iraq on Thursday morning.

Indian shipping lines have been told to furnish details of their sailing schedules with the Navy.

"We would be advising shipping lines on the precautions to be taken by them. The Navy would be monitoring voyages of Indian flag vessels. If necessary, the Navy would escort Indian ships," the official said.

The Government-run Shipping Corporation of India, which has four tankers loading crude currently at different ports in the Gulf (not Iraq), said that all vessels are safe.

Meanwhile, the Union Petroleum Minister said that oil companies have started contracting oil from countries outside the war zone. India imports over 60 per cent of its crude requirement from West Asia.

More than the war risk, shipping lines seem to be worried about the increase in war risk insurance premium, which they expect to go up sharply.

International underwriters have already announced additional premium. In India, the war risk premium is fixed by the Government.

According to reports, some major shipping lines from Asian counties have decided to suspend service to Gulf ports following the sharp increase in insurance premium.

Meanwhile, the Navy has also asked shipping lines for details of vessels that can be given on lease to evacuate Indian nationals from Kuwait and other Gulf countries.

SCI operates a couple of passenger vessels. But officials said that the Navy is thinking of operating cargo ships for evacuation of people in case of an emergency.

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Navy to monitor vessel movement