Tokyo—Japan will import Isthmus crude from Mexico for the first time since January 2004 after a local refiner fixed a Suezmax crude tanker from the West Coast of Mexico for February 28. The cargo, set to arrive as early as late March, will be Japan’s first import of Isthmus crude since the country imported 1.2 million barrels in January 2004, according to data compiled by the Ministry of Economy, Trade and Industry. Cosmo Oil has fixed a Suezmax crude tanker from the West Coast of Mexico, according to market and shipping information obtained by Platts Friday. The fixture highlights the continued efforts of Asian refiners to look for cheaper alternatives to traditional Persian Gulf supply sources.
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