The daily volume of Japan's waterborne oil products traded during the Platts Market on Close assessment process hit a record high Wednesday, with the total volume bought and sold reaching 5,000 kl or 31,450 barrels.
The previous high of 3,500 kl was recorded on both July 28 and September 27.
S&P Global Platts launched the Japan domestic waterborne oil products assessments on April 25, with the products comprising gasoline, kerosene, gasoil, low sulfur fuel oil A and high sulfur fuel oil A.
JX Nippon Oil & Energy bought 5,000 kl of gasoline on Wednesday, with Japanese trader Kanematsu Corporation selling 4,000 kl at Yen 41,500/kl ($65.58/b) and fellow traders Hanwa and Itochu Enex selling 500 kl each at the same price.
JX has been an active buyer in the MOC process since the start of this week. The largest refiner in Japan has bought 10,500 kl of gasoline during the MOC process so far this week.
"The shutdown of the Muroran units and turnaround at the Negishi refinery seem to be the main reasons [for the buying]," said a Japanese trader.
JX was forced to suspend all operations at the Muroran plant in Hokkaido, northern Japan, including truck and waterborne oil product shipments, on September 21 following a fire, Platts previously reported.
The Muroran facility is now solely a petrochemical plant, with blending facilities for gasoline and kerosene.
Muroran had halted refining operations in March 2014.
Meanwhile, the refiner shut the 150,000 b/d No. 4 crude distillation unit at its Negishi refinery on September 15, and 120,000 b/d No. 1 CDU on September 26 for a turnaround. Both the CDUs are scheduled to resume operations on October 31.
