AlwaysFree: Asia Is Taking More European Fuel Oil Amid Energy Crisis

Asia is importing more fuel oil from Europe to help fight an ongoing energy crisis, shipping and trading sources said. Per Heilmann, the head of Maersk Tankers, said fuel oil shipments from Europe to Asia had increased notably in the last 25 days thanks to an open price arbitrage between Rotterdam and Singapore. This means that differences in prices make moving fuel oil from Europe to Asia profitable. Asian utilities are taking more residual fuel oil as an alternative power-generating fuel amid shortages of natural gas and coal.