New York: India's Reliance Industries has been revealed as one of the most active aframax players in the past 12 months. Brokers Poten revealed that Reliance, owner of the world's largest oil refining complex, was the eighth largest charterer of aframaxes in 2010. The Mukesh Ambani-controlled firm held about 3% of the aframax clean tankers segment last year.
Vitol Group, the world's largest independent oil trader, was the biggest charterer of Aframax vessels in 2010 with about 8 percent of market share, Poten said in the January 21 report.
Reliance, which operates two refineries in the western Indian state of Gujarat, exports its products as it can't compete with state-run refiners compensated by the government for selling fuels below cost.
Reliance, India's biggest company by market value, was last year the fourth-largest spot charterer of very large crude carriers, or VLCCs, which can carry about 2 million barrels of crude oil, according to a Poten report on January 7. [25/01/11]
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