VARUN SHIPPING DECLARES 21% DIVIDEND
Article Abstract:
Varun Shipping has recommended a dividend of 21 percent for the year ended March 31, 1998. The turnover rose by 12.48 percent during the year. (gsh) ----------------------------------------------------------- Varun Shipping: Financial Results (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Turnover 175.98 156.46 ------------------------------------------------------------ Net Profit 26.08 21.55 ------------------------------------------------------------ Earnings per share (Rs) 6.81 5.66 ------------------------------------------------------------
Comment:
Proposes dividend of 21% for the year ended 3/31/98 & turnover up by 12.48% during year
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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PETRONET, SCI PLAN SHIPPING JV FOR LNG
Article Abstract:
Petronet LNG, itself a joint venture of Indian Oil Corporation, Oil and Natural Gas Ltd and Bharat Petroleum, is planning a joint venture with the Rs2,521-crore Shipping Corporation of India (SCI) to supply LNG. Petronet LNG has a tie-up with Rasgas of Qatar for the supply of 7.5 million tonnes of LNG, which is the demand quantity also. Shipping LNG requires dedicated vessels, each of which costs around $200-$255 million. At present, no other shipping company in India has such liners. The joint venture is planned to take care of shipping of liquefied natural gas (LNG). The venture proposes both major partners having a joint stake of 51 percent, with the balance being given to financial institutions and the public. (nr)
Comment:
Petronet LNG, itself a joint venture of Indian Oil Corporation, Oil and Natural Gas Ltd and Bharat Petroleum, is planning a joint venture with the Rs2,521-crore Shipping Corporation of India (SCI) to supply LNG.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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NO FISCAL ANCHOR FOR SHIPPING
Article Abstract:
The shipping industry was pinning hopes on this year's budget to get the depreciation rates on ships hiked from 20 percent to 40 percent on written down value basis and a 100 percent tax exemption on shipping income from 50 percent in the 1998-99 Budget. The Budget 1998-99 has bypassed the Rs5,000 crore shipping industry's demands. The Indian fleet has 6.89 million gross revenue tonnage as on January 1, 1998. (rk)
Comment:
India: Shipping ind hopes to get depreciation rates on ships to increase from 20% to 40% on written down value basis
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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