Five of a family saved from mob in Nashik


first_imgHours after five persons were bludgeoned to death in Dhule district by a mob that suspected them to be child-lifters, a family of five narrowly escaped a similar fate in Nashik district late on Sunday night.The police said a huge mob, fed on social media rumours about a child lifting gang, came looking for the victims in the Azad Nagar locality of Malegaon. The victims Gajanan Sahebrao Gire, his wife Sindhubai, their two-year-old child, Sindhubai’s sister Anusaya and another relative Yogesh — all hailing from Parbhani district — were apparently asking for money along Malegaon’s Ali Akbar Road area to pay for their return back home.“Around 11 p.m. , we got a call about some persons being assaulted by a mob on suspicion of being child lifters. The police rushed to the scene and managed to pacify the restive mob,” said Harssh Poddar, IGP, Nashik Range. However, when the police attempted to take some of them into custody, the crowd turned violent. The mob, which had swelled by then, began hurling stones on the security personnel. “One police vehicle was overturned and the windscreens of some vans were smashed. A reserve team was rushed to the spot and only then did we manage to quell the violence,” said Sub-Inspector Milind Navgire.He said the police took the family, which had taken shelter in a building along Ali Akbar road, safely to a nearby police station.Another official from the Malegaon police station said a case under sections 143, 147, 149 and 323 of the Indian Penal Code (IPC) had been lodged against unidentified persons at the Azad Nagar police station. No arrests had yet been made.last_img read more

Expanded Panama Canal Tops Expectations


first_imgzoom On its way to further position Panama as the logistics hub of the Americas, the Expanded Panama Canal has set a number of records and surpassed expectations in its first year of operations, resulting in redrawn global trade routes.Over the past 12 months from its inauguration date of June 26, the Expanded Canal’s performance “has exceeded nearly all expectations.”During the period, more than 1,500 Neopanamax vessels transited the new locks, according to the Panama Canal Authority (ACP).Containerships represent some 46.8 percent of traffic through the waterway, followed by liquefied petroleum gas (LPG) carriers and liquefied natural gas (LNG) carriers, which represent around 34.2 and 9.4 percent, respectively. Other segments such as bulk carriers, tankers, car carriers, and passenger vessels have also transited the new locks.Additionally, Panama Canal’s tonnage has increased by 22.2 percent when comparing the 2016 and 2017 fiscal year. On average, 5.9 vessels transit the Expanded Canal per day, surpassing original forecasts of two to three daily transits for the first year of operation.Fifteen new liner services opted to transit the Expanded Locks, “as shipping lines continue to reroute their services to take advantage of the economies of scale offered by the Expanded Canal.”The one-year anniversary of the canal’s inauguration, one of the most significant milestones in the history of the 102-year old waterway and a defining moment for the people of Panama and the broader maritime industry, will be commemorated on June 26, 2017.All vessels transiting on Monday will receive a commemorative first anniversary plaque, the ACP informed.last_img read more

COSCO Coastal Oil Singapores Debt Claims Not Genuine


first_imgzoomIllustration; Image Courtesy: Pixabay under CC 2.0 license Crude oil products supplier Coastal Oil Singapore Pte Ltd, which has filed for liquidation in December 2018, has been linked to debt fraud.COSCO Shipping International (Hong Kong) said that it has received claims from commercial banks seeking payments of alleged debt from one of its indirect wholly-owned subsidiaries, Sinfeng Marine Services Pte.As informed, the troubled marine fuel player reportedly assigned to the banks receivables due from Sinfeng to Coastal Oil Singapore.Namely, Coastal Oil Singapore was a major supplier of Sinfeng, which is engaged in the supply and trading of marine fuel and related products to major oil ports.Specifically, Coastal Oil Singapore accounted for 94% and 93% of Singfeng’s total purchase costs for the year ended December 31, 2017 and the six months ended June 30, 2018.“Based on a preliminary assessment, the management of Sinfeng is of the view that the documents inrelation to almost all of the alleged debts are not genuine,” COSCO Shipping International said in a regulatory filing. “Sinfeng is still in the process of conducting an investigation  and seeking professional advice in respect of the aforesaid matters.”Sinfeng is working on finding alternative suppliers to Coastal Oil Singapore and will conduct a review of its business operations.“The board expects that the revenue of the group will decrease significantly unless and until alternative suppliers to Coastal Oil Singapore are identified. However, in light of the insignificant profit contribution of Sinfeng, the board currently does not foresee any material adverse impact on the group as a result of the liquidation of Coastal Oil Singapore,” COSCO added.last_img read more