NEW DELHI: India’s top refiner Indian Oil Corp is close to chartering a Panama flagged ship rather than an Indian vessel in its first five-year tender to hire an oil tanker with scrubbers that remove sulphur emissions, sources with knowledge of the matter said.
In December last year, state-owned IOC issued a global tender and offered Indian shippers a first right of refusal as the nation seeks to boost its shipping industry. India, the world’s third-biggest oil importer, wants to promote the market share of its vessels in bringing in crude imports.
