{"id":282228,"date":"2019-07-15T06:38:15","date_gmt":"2019-07-15T06:38:15","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=282228"},"modified":"2019-07-15T06:38:15","modified_gmt":"2019-07-15T06:38:15","slug":"ioc-hires-foreign-flagged-vlcc-at-day-rate-of-31950-for-seven-years","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ioc-hires-foreign-flagged-vlcc-at-day-rate-of-31950-for-seven-years\/","title":{"rendered":"IOC hires foreign flagged VLCC at day rate of $31,950 for seven years"},"content":{"rendered":"<p>Indian Oil Corporation Ltd (IOC) has hired a foreign flagged very large crude carrier (VLCC) at a day rate of $31,950 for seven years. This has upsetting the calculations of the Government to use such long-term contracts to help India expand its shipping capacity to haul more oil cargoes for strategic reasons.<\/p>\n<p>Earlier this year, IOC had called for bids to hire a ten-year old oil super tanker for a firm period of five years with two extensions of one year each. This was the first of such experiments brokered by the shipping and oil ministries.<\/p>\n<p>The move followed intense lobbying by the local shipping groups which said that long-term contracts would facilitate funding at better rates to buy ships.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Oil Corporation Ltd (IOC) has hired a foreign flagged very large crude carrier (VLCC) at a day rate of $31,950 for seven years. This has upsetting the calculations of the Government to use such long-term contracts to help India expand its shipping capacity to haul more oil cargoes for strategic reasons. Earlier this year, IOC had called for bids to hire a ten-year old oil super tanker for a firm period of five years with two extensions of one year each. This was the first of such experiments brokered by the shipping and oil ministries. The move followed intense [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-282228","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=282228"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282228\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=282228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=282228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=282228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}