Oslo-listed shipping firms expect demand for shipping services to rise following last week's devastating earthquake and tsunami in Japan, top executives said.

Frontline, the world's largest independent oil tanker firm, and dry bulk shipper Golden Ocean both see a stronger shipping rates as Japan starts to import building materials and fuel.

"Short-term, I think it will be a bit tighter in Japan," said Golden Ocean chief executive Herman Billung. "I assume there are areas which have been affected which cannot receive cargo and that force majeure will be declared in some areas."

Billung said that with reduced nuclear power output, Japan would need to import more coal, gas and oil to meet its energy needs, and rebuilding the country would require material such as steel and concrete.

"Towards the summer or autumn, this will probably have a positive effect on the whole shipping market." (Reuters)