ReportedShipping, energy & marketsTokyo, Japan
Japan approves bills to compensate oil importers for higher shipping costs
- Mountain Time
- Local time
- 8:30 PM in Tokyo
- Where
- Tokyo, Japan
Japan's government approved three bills intended to diversify crude supply and provide grants covering higher shipping costs for oil importers procuring alternative supplies after disruption to Strait of Hormuz routes. The bills will be sent to parliament for debate.
Why it matters
The measures could reduce the cost burden on Japanese refiners shifting away from disrupted Middle East shipping routes, but parliamentary approval is still required.
Source
- OilPrice.comoilprice.comPublished
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