Oil shipments to Japan have not been significantly affected by the country's devastating earthquake and subsequent nuclear crisis, a leading shipping industry group said on Wednesday, Reuters reports.
The vast majority of Japan's oil terminals have resumed normal operations after briefly shutting down due to Friday's earthquake and subsequent tsunami that has killed thousands.
Only two oil handling ports -- Onahama and Kashima -- and Cosmo Oil's terminal in the port of Chiba remain closed.
"There has been no significant impact for our members trading in the region," said Tim Wilkins, Asia-Pacific manager for Intertanko, the world's largest association for tanker owners covering a combined fleet of more than 3,000 vessels.
"While the majority of crude oil deliveries continue for the time being, this will ultimately depend on refinery throughput. The oil and tanker industries have the flexibility to accommodate Japan's requirements."
More than 30 percent of Japan's refinery capacity, or 1.4 million barrels per day, has been shutdown, although some capacity could return as early as next week.
This has forced Japan to sell crude oil that it cannot process into refined products, while importing products where it is in deficit, such as diesel and gasoline.
The vast majority of Japan's oil terminals have resumed normal operations after briefly shutting down due to Friday's earthquake and subsequent tsunami that has killed thousands.
Only two oil handling ports -- Onahama and Kashima -- and Cosmo Oil's terminal in the port of Chiba remain closed.
"There has been no significant impact for our members trading in the region," said Tim Wilkins, Asia-Pacific manager for Intertanko, the world's largest association for tanker owners covering a combined fleet of more than 3,000 vessels.
"While the majority of crude oil deliveries continue for the time being, this will ultimately depend on refinery throughput. The oil and tanker industries have the flexibility to accommodate Japan's requirements."
More than 30 percent of Japan's refinery capacity, or 1.4 million barrels per day, has been shutdown, although some capacity could return as early as next week.
This has forced Japan to sell crude oil that it cannot process into refined products, while importing products where it is in deficit, such as diesel and gasoline.