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Indian owners ask New Delhi for emergency funding

Indian owners ask New Delhi for emergency funding

Mumbai: The Indian National Shipowners' Association (INSA) has sought government help to set up a 100-billion-rupee fund to help finance new vessel buys, an official from the industry body said Tuesday.
Finance streams have been drying up due to the global economic downturn, S. Hajara, president of INSA, told reporters on the sidelines of a seminar on shipping and ports.
INSA has also asked the government to encourage domestic banks to lend to shipowners who want to add to their fleet, he said. [11/02/09]


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