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Geneva-headquartered Vitol, one of the world’s largest traders in crude oil and oil products, has sold a naphtha cargo sourced from the new Indian refinery in Paradip for shipment to Japan, traders and shipping industry executives. An LR1 tanker, the Gulf Pearl, will load a 55,000 mt naphtha parcel for Vitol this week from Paradip.
So far, close to 250,000 mt of naphtha from Indian Oil Corp.’s new refinery in Paradip have been sold in recent months for export, mostly to Vitol for shipments to Singapore and North Asia, sources said. The deals are significant because they open an altogether new trade route for clean product tankers.
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