Financial Daily from THE HINDU group of publications
Wednesday, Jun 30, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jun 30, 2004 |
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Logistics
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Shipping HPCL brings in crude Our Bureau
Mumbai , June 29 IN line with the present trend in the domestic oil industry, HPCL has embarked upon import of crude in VLCCs (Very Large Crude Carriers) by bringing the first parcel in such a carrier at Kakinada port in Andhra Pradesh. The crude was later transhipped into daughter vessels for discharge at the neighbouring Visakhapatnam port. So far, HPCL has been importing crude oil in 1.35-lakh-dwt Suezmax vessels because of the draft limitations at major ports, which restricted entry of VLCCs. But now with many ports receiving VLCCs for lighterage operations, HPCL, like IOC and BPCL, is planning to move crude oil in larger parcels. "This operation at Kakinada will reduce freight cost by $0.7 to 1/BBL. So HPCL plans to bring in most West African cargoes through VLCCs for lighterage or Kakinada or Visakhapatnam ports," an official said.
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