Tankers sail to India after $1.4 bn payout

August 10, 2011 16:21

Two oil tankers are sailing to India's west coast from Iran after the South Asian nation paid 1 billion euros ($1.4 billion) to partially clear debt on its purchases via the mediation of a Turkish lender, ship-tracking data show, says the Hurriyet Daily News.

Desh Bhakt, owned by the Indian government, and Jag Laxmi, a Great Eastern Shipping vessel, are sailing to the western Indian port of Mangalore, carrying crude oil from Iran's main crude-export terminal, according to transmissions captured by AIL Live, the global provider of real time shipping data, on Bloomberg.

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