Fairplay: Aframax Gains Seen in Japan Fuel Oil Rises

“Japan’s imports of fuel oil and heavy sweet crude for oil fired power plants have surged since its quake crisis, raising demand for Aframaxes. Tanker consultancy Poten & Partners noted that in the first four months of 2012 fuel oil imports and direct crude burn averaged 539,000 barrel per day. That was more than three times the 2010 average of 152,000 b/d before the tsunami and almost 80% above the 2011 average of 303,000 b/d, according to data from the Petroleum Association of Japan.”