SME Times News Bureau | 17 May, 2013
The union cabinet Thursday allowed the Steel Authority of India (SAIL) and Rashtriya Ispat Nigam Limited (RINL) to directly charter ships without going through the government's chartering organization TRANSCHART.
According to a steel ministry release, the decision will help in meeting the shortfall in the domestic availability of coking coal.
As per existing policy, vessels for shippping imported coal by government companies have to be chartered through TRANSCHART, and an exemption has been given to both the steel public sector units.
SAIL and RINL import around 14-15 million tonnes of coking coal annually.
"SAIL and RINL will have better control of logistics, shipping and operations of importing coal and other raw material from overseas," the statement announcing the cabinet exemption said.
