According to the Bangalore Water Supply and Sewerage Board (BWSSB), pricing for tankers is competitively set and lower than prevailing market rates.
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Pentagon accuses Iran of targeting a Japanese-owned tanker, signaling heightened risks to shipping beyond the Red Sea.
Moscow promised retaliation on Saturday after Ukrainian drones hit a Russian tanker in the Black Sea near Crimea late on Friday, the second.
Almost 1,200 miles away in Dubai, a small office in a run down industrial estate, offers no clues that it, too, is a small cog in Russia’s vast new petroleum supply chain.
In an interview with CNBC-TV18, Anoop Sharma, Chairman and MD of SCI, said the second quarter of this financial year was weak due to the decline in the earnings of the tanker segment. The offshore fleet was also not utilised due to the monsoon adding to the losses in the second quarter.
Revenue came in majorly from the tanker business, AK Gupta, CMD of SCI said adding that Q3 will be on same lines as Q2 if the crude prices and demand remain the same.