Asia/Pacific News
Bright Future for Bunkering at Indian Ports, Say Market Players
Hinode's fifth annual conference on the outlook for bunkering and marine lubricants in India has highlighted progress and opportunities for bunkering in the nation, MarineLink reports.
While the conference discussed several factors that have so far kept India from becoming a "great bunkering destination," market players noted much progress was being made.
Ashish Khanna, Chief Manager of Marine Sales for Hindustan Petroleum Corporation Ltd. said that while infrastructure for bunkering has been lacking at many ports, with Mundra being a notable exception, infrastructure development is progressing well across the country.
Other issues such as old barges were also being addressed.
Manoj Tandon, General Manager of Adani Bunkering Pvt Ltd. said that resolution of issues like pricing, taxes, and infrastructure were key to increasing bunkering at Indian ports.
Tandon also noted that bunker prices at a port like Cochin were also very competitive, and differed from Singapore by only $10 to $15, less than the differential in some neighbouring ports.
In October 2015, Ship & Bunker reported that the Indian government was easing customs and excise duties on bunkers by extending tax exemptions to ships carrying containers domestically.
