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Singapore-based Mare Maritime Group, which is involved in ship ownership/operation, trading and crew training/recruitment, said it will set up its regional headquarters in India to take advantage of the growing opportunities. Operations in India will be led by group entity Mare Maritime India Pvt Ltd, which is currently involved in crew training and recruitment. “We have decided to make India our regional headquarters as there is a growing demand for clean petroleum products (CNG, LNG) and edible oils, which are mostly imported,” Mare Maritime Group founder and CEO Rohit Kapoor said. “Our India office will create the largest pool of handy-size tankers and the commercial management of MR tankers for trading clean petroleum products and edible oils will be handled from India,” he said. However, the technical management of the vessels will be handled from Vietnam. “India is a growing economy and the demand for edible oils is constantly increasing due to population growth. Our medium range (MR) tankers will be useful for importing soybean, sunflower and palm oil,” he said. “Our MR tankers will also be deployed for transport of clean petroleum products,” he said. “Crew management and commercial management will be done by the Indian office, which includes trading of clean petroleum and food items and its storage, packaging, distribution and retail management and supply,” he added. “Once all 20 MR tankers are delivered and trading and commercial management of the vessels is in full swing, we aim to launch an IPO of Mare Maritime Group and list it on Indian stock exchanges,” he added. Apart from Singapore and India, the group has also expanded to Kenya and other countries. Currently, it has around 500 employees in global operations. The group plans to become a leading player in MR tankers and supply clean petroleum products to global markets, including India.
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