NEW DELHI: State-run oil companies have decided to stop chartering tankers owned or operated by Chinese companies even if the vessels are registered under third-country flags.
\nThe move follows regulations issued last month to curb business dealings with China in retaliation against the Chinese army\u2019s border transgressions in Ladakh and the death of 20 Indian soldiers in the Galwan Valley clash.
\nIndia-China border stand-off: Complete coverage
\nThe oil companies already have a first-right-of-refusal clause in favour of Indian flag vessels in their global tenders. Under this clause, Indian tankers can be given contracts if they match the winning bid of foreign vessels. The latest move throws vessels with any China connection out of the ring. For limited tenders, the companies will not invite bids from Chinese shipping entities previously registered with them.
\nChinese vessels have a small share of the number of ships chartered by the oil companies. As such, the ban will not have much impact on oil companies\u2019 trade.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: State-run oil companies have decided to stop chartering tankers owned or operated by Chinese companies even if the vessels are registered under third-country flags. The move follows regulations issued last month to curb business dealings with China in retaliation against the Chinese army\u2019s border transgressions in Ladakh and the death of 20 Indian soldiers in the Galwan Valley clash. India-China border stand-off: Complete coverage The oil companies already have a first-right-of-refusal clause in favour of Indian flag vessels in their global tenders. Under this clause, Indian tankers can be given contracts if they match the winning bid of […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-367490","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/367490","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=367490"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/367490\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=367490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=367490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=367490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}