Asia: Japan's Mitsui buys all of Pertamina's LSFO cargoes for Mar exports

Chemical News: Asia: Japan's Mitsui buys all of Pertamina's LSFO cargoes for Mar exports

https://www.chemnet.com Mar 15,2011
Japan's Mitsui has bought all the five low-sulfur fuel oil cargoes that Indonesia's Pertamina offered for March exports, in view of impact of the earthquake, C1 learned from market sources.

These cargoes, 30,000mt each, are all V500 fuel oil. Four of these cargoes are scheduled for loading in Balikpapan, one in Dumai.

Previously Mitsui planned to take two of these cargoes under a long term contract.

Most refineries in Japan's east coastal areas have been shut down and the impact on the production of low-sulfur fuel oil is not clear yet. It is not known yet either how much more low-sulfur crude and fuel oil Japan will need to import because of the shutdown of three nuclear plants. Traders say it will lend support to the market of low-sulfur fuel oil in Asia, likely to push up prices in the near term.

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