World News
India Ready for Iran Port Investment, Mulls Iran-Pakistan Pipeline
India is interested in restarting negotiations over participation in a pipeline project carrying natural gas from Iran, Fars News Agency reports.
The nation had abandoned negotiations over the project, originally known as the Iran-Pakistan-India (IPI) or Peace Pipeline, in 2009, but the pipeline has moved forward as a partnership between Iran and Pakistan, with the final construction phase inaugurated in March.
Salman Khurshid, India’s external affairs minister, recently said his country is ready to participate in the project and to invest in the development of the Iranian port of Chabahar, India's Hindustan Times reported.
"We are going ahead with the Chabahar project. Cabinet has already cleared it,” he said.
The investment could help turn Chabahar into a hub for the movement of Indian goods to Afghanistan, while others see investment as a way to counter the Chinese-managed Gwadar port in southwestern Pakistan.
The pipeline, meanwhile, would offer Iran a boost in its regional influence, as well as be a welcome source of revenue, while also boosting energy supplies in Pakistan, according to UK newspaper the Guardian.
Pakistan recently stopped pursuing plans to import liquefied natural gas (LNG) from Qatar.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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