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Market Chatter: Idemitsu to Route 4 Million Barrels to Vietnam Outside Hormuz

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Idemitsu Kosan (TYO:5019) will supply Vietnam with about 4 million barrels of Middle Eastern crude via routes that bypass the Strait of Hormuz, Nikkei reported Tuesday.

The cargo will be refined in Vietnam into fuels and petrochemical feedstocks, supporting supply chains that feed plastic components into Japan's auto, appliance and consumer goods sectors, according to the report.

The volume equals roughly 10 days of Vietnam's crude demand and is expected to help maintain operations for Japanese manufacturers in the country. Hanoi has faced challenges securing crude and sought support from Tokyo earlier this year, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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