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Our Bureau

Mumbai , Oct. 15

Shipping companies have not been taken by surprise by the Government's proposal to extend its permission to IOC to make its own shipping arrangement by one more year. In fact, the companies have been preparing themselves for a further reduction in movement of Government-owned cargo through Transchart, the chartering arm of the Shipping Ministry, following the success of the IOC experiment.

"Encouraged by the IOC experiment, we understand that the Government is also considering to give similar relaxation to the other oil PSUs," a representative of the Indian National Shipowners Association (INSA) said.

Shipping companies have strongly appealed to the Government to continue with the earlier practice involving Transchart to make shipping arrangements for PSUs.

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