Rameswaram fishermen strike against Lankan navy

Every time the Lankan navy confiscated a boat, families of the boat owner, five fishermen who worked in the boat and those engaged in offloading and transportation lost their livelihood. The Lankan authorities have confiscated 55 fishing boats so far this year, he said.Last year, the Lankan navy had confiscated more than 80 boats and after they were released the State government helped to bring back the boats, spending about Rs One lakh per boat but 18 boats could not be salvaged, he pointed out. The fishermen are feared drowned as the search teams, including INS Parundu, the Indian naval air station and the Mandapam station of Indian Coast Guard (ICG) could not trace them so far, P Sesu Raja, leader of a fishermen association said and urged the government to pay compensation to the families. Fishermen in Rameswaram, Tamil Nadu launched an indefinite strike yesterday demanding that the authorities trace four fishermen, who went missing after their boat sank on November 29 and also protested against repeated arrests by the Sri Lankan navy.As decided at the meeting of 11 fishermen associations on Tuesday, about 4,000 fishermen struck work after anchoring the 750-odd mechanised boats at the fishing jetty, The Hindu newspaper reported. The four fishermen, Sudalaimani, Anthonysamy, Ramasamy and Muniasamy were fishing south off the Katchatheevu islet at the early hours of November 29 when their boat sank after water seeped into the vessel.Feared drowned The fishermen were reluctant to venture into sea as they faced the threat of abduction at the hands of Lankan navy, he said.The strike was also in protest against repeated attempts by Lankan navy to prevent the fishermen from exercising their traditional rights in the waters in the Palk Bay by arresting them, he said. read more

Crude oil hits 5month low near 93 a barrel amid expected rise

Crude oil hits 5-month low near $93 a barrel amid expected rise in US supplies by The Associated Press Posted Nov 12, 2013 1:39 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email NEW YORK, N.Y. – The price of oil sank two per cent Tuesday, hitting a five-month low, as the market anticipated another increase in domestic supplies.Benchmark West Texas Intermediate crude for December delivery fell $2.10, or 2.2 per cent, to close at US$93.04 a barrel in on the New York Mercantile Exchange. Oil has dropped about nine per cent in the past month.Expectations for another increase in U.S. crude supplies weighed on prices.Data for the week ended Nov. 8 is expected to show an increase of 1.8 million in crude oil stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos. That would mark the eighth straight weekly increase.Markets also digested reports from the International Energy Agency and the Organization of Petroleum Exporting Countries.The Paris-based IEA said China and India would turn Asia into the world’s main driver of energy demand in coming years, while the United States is expected to be able to meet its energy needs from domestic sources by 2035.OPEC, headquartered in Vienna and representing some of the world’s largest oil exporters, including Saudi Arabia, Venezuela and Nigeria, kept forecasts for demand for its crude this year and next unchanged from a month ago but warned there were still risks to growth.“Although the global economy continues to improve, the pace of growth remains sluggish and near-term developments will need close monitoring,” OPEC said in its monthly report.Brent crude, the international benchmark, slipped 64 cents to US$105.54 a barrel on the ICE exchange in London.In other energy futures trading on Nymex, wholesale gasoline lost one cent to US$2.59 a U.S. gallon (3.79 litres), heating oil slipped four cents to US$2.85 a gallon and natural gas advanced four cents to US$3.62 per 1,000 cubic feet.(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS), (TSX:CVE) read more