Over the past month or so, the flow of fuel tankers from Europe to Asia has increased sharply.

Asia is looking to more fuel oil sources from Europe to cope with the energy crisis, according to a company that manages hundreds of tankers crossing the sea.

According to Per Heilmann, head of commodity trading at Maersk Tankers A/S, there has been a significant increase in shipments from Europe and the great Atlantic basin to the East over the past 25 days or so. .

“We see an open price spread from Rotterdam and Singapore in the fuel oil market,” he said, referring to the price differentials between the different regions that help them profit from shipping.

Shortages of gas and coal mean that demand for excess fuel oil – a low-quality, low-value oil product – for the power sector will increase. According to the International Energy Agency, demand for excess oil increased in many regions but was strongest in Asia.

Heilmann said Supertankers, Suezmaxes and Aframaxes are being deployed for this commercial operation. Supertankers can carry about 2 million barrels of crude oil while Suezmaxes and Aframaxes have the capacity to carry 1 million barrels and 760,000 barrels, respectively.

Maersk Tankers owns more than 220 oil tankers across the sea.

According to Bloomberg, Asian importers are paying the highest fees for fuels used in boilers or electric turbines, as they seek alternatives as natural gas becomes increasingly expensive. Red.

The energy crisis was caused by soaring prices of raw materials for power generation such as coal and liquefied natural gas. The cost of fuel used in the cold season in Asia has increased to a record high.

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