Shipping Corp to buy 110 vessels for Rs27,668 crore

The acquisition of 110 vessels would take SCI's total tonnage to about 7.21 million Gross tonnage (GT) by 2020.

New Delhi: Shipping Corporation of India (SCI) plans to acquire 110 vessels of 5.21 million gross tonnage (GT) at an estimated cost of Rs27,668 crore in next 10 years, the Parliament was told on Monday, reports PTI.

Among these vessels, the Shipping Corporation is likely to place orders for 26 vessels by 2011-12, Shipping Minister GK Vasan said in a written reply to Lok Sabha. He added that the acquisition of the vessels would take SCI's total tonnage to about 7.21 million Gross tonnage (GT) by 2020.

Gross tonnage is a unit less index related to a ship's overall internal volume and is calculated based on the moulded volume of all enclosed spaces of the ship.

The Shipping Minister further said that SCI has placed orders for 36 vessels so far against the target of acquiring 62 vessels in 11th Five Year Plan, which includes acquisition of one resale vessel. Of these, five vessels have been delivered while others are being built in different Indian, Chinese and South Korean shipyards, he said.

The Shipping Corporation currently has a fleet of 78 vessels of different types, having a total 3.19 million GT and total carrying capacity of 5.61 million dead weight tonnage (DWT). During the first nine months of the ongoing fiscal, the Navratna company carried a total cargo of 23.08 million tonne plus 1.27 lakh TEUs, Mr Vasan said.

DWT is a measure of how much weight a ship is carrying or can safely carry, while the twenty-foot equivalent unit (TEU) is an inexact unit of cargo capacity, used to describe the capacity of container ships and container terminals.


HDFC MF's Milind Barve appointed as AMFI chairman

Mr Barve and Mr Sikka would hold office of chairman and vice-chairman, respectively, till the next Annual General Meeting of AMFI, which is expected to take place in September.

New Delhi: Mutual fund industry body Association of Mutual Funds in India (AMFI) has named HDFC Asset Management Co's managing director Milind Barve as its new chairman, a position which fell vacant after incumbent UK Sinha became chief of market regulator SEBI, reports PTI.

At the same time, the AMFI has named Sundeep Sikka, chief executive of Anil Ambani group's mutual fund arm Reliance Capital Asset Management Co, as its new vice-chairman.

Earlier in September 2010, AMFI had named UK Sinha, then chief of UTI Mutual Fund, as its chairman and Mr Barve as its vice-chairman.
However, the leadership team at AMFI had to undergo a change after Mr Sinha assumed charge as SEBI chairman on 18th February.

Mr Barve and Mr Sikka would hold office of chairman and vice-chairman, respectively, till the next Annual General Meeting of AMFI, which is expected to take place in September.

In addition to being an industry organisation, AMFI also serves as a self-regulatory body for the mutual fund firms. It interacts with the SEBI, which regulates the MF space, and represents to the government, RBI and other organisations on all matters relating to the mutual fund industry.

Its responsibilities include implementation of various regulatory requirements for the mutual fund companies, distributors and investors.




6 years ago

Congrats to Mr.Barve. Let us hope that he would wring in nessary changes for the growth and development of mutual industry.

SC rejects petition for euthanasia on behalf of Aruna Shanbaug

Judges say medical evidence suggests 60-year-old nurse need not be allowed to die. However, court explains that life support can be legally removed for some terminally ill patients in exceptional cases

New Delhi: In a keenly-awaited verdict, the Supreme Court today dismissed a euthanasia plea on behalf of a 60-year-old nurse, living in a vegetative state after a brutal sexual assault at work, 37 years ago.

Judges Markandey Katju and Gyan Sudha Mishra dismissed the petition filed on behalf of KEM Hospital nurse Aruna Shanbaug, saying that while active euthanasia (mercy killing) was illegal, yet "passive euthanasia" can be permissible in exceptional circumstances. The apex court said that as per the facts and circumstances of Ms Shanbaug's case, medical evidence and other material suggest that the victim need not be subjected to euthanasia, reports PTI.
The bench, however, said that since there is no law presently in the country on euthanasia, mercy killing of terminally ill patient "under passive euthanasia doctrine can be resorted to in exceptional cases". The bench clarified that until Parliament enacts a law, its judgement on active and passive euthanasia will be in force.
Ms Shanbaug, who is now nearly 60 years old, slipped into a coma after a brutal attack on her by a staffer at Mumbai's King Edward Memorial Hospital, on 27 November 1973.

The plea for the mercy killing was made by writer Pinki Virani, who told the court in her petition that the nurse slipped into coma after she was attacked by a sweeper who wrapped a dog chain around her neck and yanked the victim with it. Ms Virani said that due to strangulation by the chain, the supply of oxygen to the brain stopped and the cortex got damaged. She also had brain stem contusion injury associated with cervical cord injury.

According to the petitioner, in the last 37 years after the incident, Ms Shanbaug has become "featherweight" and her bones are brittle. She is prone to bed sores. Her wrists are twisted inward, teeth have decayed and she can only be given mashed food on which she survives, Ms Virani said.
She stated that Ms Shanbaug is in a persistent vegetative state, her brain is virtually dead and she is oblivious to the outside world. She can neither see nor hear anything, nor can she express herself or communicate in any manner, whatsoever, Ms Virani said in her petition.

The bench had reserved its verdict on the plea for mercy killing after hearing detailed arguments by various parties on the matter of allowing euthanasia. Among the counsels who made submissions on the controversial issue were attorney general GE Vahanvati, amicus curiae TR Andhyarujina, Ballabh Sisodia for the hospital and Shekhar Naphade, who appeared for the petitioner and Ms Virani.

During the arguments, the government took the stand that there is no provision either under the statute or the Constitution to permit euthanasia. Mr Sisodia opposed the plea contending that the hospital staff, particularly the nurses and the doctors, have been taking "dedicated care" of Ms Shanbaug for the past 37 years and they were opposed to allowing the plea for mercy killing.


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