October 2, 2018 / 5:32 AM / 19 days ago

Vitol hires ex-Trafigura naphtha trader for Singapore office

SINGAPORE (Reuters) - Global commodity trader Vitol has hired Roy Kim as a naphtha trader at its Singapore office following the departure of two key traders, three market sources said on Tuesday.

Kim joined South Korea’s SK Energy as an oil trader in 2008.

He left SK, South Korea’s largest refiner, in 2014 to join Socar Trading and in 2016 joined Trafigura.

A spokeswoman for Vitol did not reply to an email from Thomson Reuters seeking confirmation that Kim joined Vitol this week.

Vitol is a key naphtha market participant, frequently buying Indian spot cargoes and handling deals with end-users, including Asia’s top naphtha importer, Formosa Petrochemical Corp

Naphtha traders Patrick Loh and Ivy Tan left Vitol in the first half of this year after several years at the firm.

Tan has since joined Japanese petrochemical firm JXTG Nippon Oil & Energy Corp, the sources added.

Reporting by Seng Li Peng; Editing by Christian Schmollinger

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