India takes missing ship case to global regulator

India takes missing ship case to global regulator
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First Published: Mon, Jun 23 2008. 10 35 PM IST
Updated: Mon, Jun 23 2008. 10 35 PM IST
Bangalore: India has urged global maritime regulator, the International Maritime Organization (IMO), to launch an underwater search to locate the Panama-flagged ship ‘MV Rezzak’, which went missing in the Black Sea on 18 February with all 25 Indian crew when it was on its way from Russia to Turkey.
Four months after the incident, there has been no trace of the ship or its crew. Panama’s inquiry has been inconclusive and it has presumed the loss of the ship because of bad weather.
India’s maritime regulator, the director general of shipping, raised the issue during a meeting of IMO’s council held in London during 16-20 June.
“Questions are being raised on the fundamental safety mechanism of the IMO,” said director general Kiran Dhingra during an intervention made at the meeting, according to a statement issued by her office.
“Every safety mechanism ever put in place by IMO seems to have failed in this case,” she said, referring to the failure of the ship’s emergency position indicating radio beacon, simplified voyage data recorder and digital selective call, after the ship went missing.
“I convey the agitation of the Indian Parliament that we should be encouraging global seafaring opportunities for our countrymen when there is such scant regard for their safety,” she added.
Family members of the crew refuse to believe their kin are dead, in the absence of evidence.
“They are convinced that the vessel could not have so completely disappeared without a trace when IMO has, without regard to the cost to ship owners, used every technological advance available to keep track of and trace vessels at sea and to protect the interests of crew and cargo,” Dhingra said.
“Only the location of the ship, through an underwater search, will be acceptable to them as a conclusion of the investigation,” she added.
Warburg to?invest Rs276 cr in Laqshya
New Delhi: Global private equity firm Warburg Pincus Llc. will invest Rs276 crore in Mumbai-based outdoor advertising company Laqshya Media Pvt. Ltd, a statement said on Monday.
“This investment by Warburg Pincus comes at a time when the out-of-home advertising space is growing dramatically,” Laqshya Media’s managing director Alok Jalan said in the statement.
Laqshya has a diversified portfolio of media assets spanning airport and transit advertising, street furniture, digital media networks and traditional billboards.
It also has the exclusive advertising rights at the Rajiv Gandhi Hyderabad International Airport and Colombo International Airport, the statement added. Staff Writer
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First Published: Mon, Jun 23 2008. 10 35 PM IST