Another state-owned Indian company intends to launch a ship-chartering arm to bypass red tape.

Oil refiner Mangalore Refinery & Petrochemicals Ltd (MRPL) is seeking the freedom to charter ships for carrying petroleum products and crude oil imports.

At present, its chartering needs are served by state-backed Transchart, which, according to sources, has a reputation for being bureaucratic and inflexible.

According to MRPL officials, it has discussed its plans with the petroleum ministry and expects a decision within the next three months.

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