China’s bonded bunker fuel imports surged in September – JLC, writes Aparupa Mazumder for Engine.
China’s bonded bunker fuel imports grew in September
China’s bonded bunker fuel imports grew in September, after the country lowered its domestic VLSFO production rapidly, JLC reported citing data from China’s General Administration of Customs (GACC).
China produced 1.17 million mt of VLSFO in September, with daily outputs at 39,000 mt, a drop of 5% from August. “Domestic refineries slowed down their VLSFO production amid bad margins, leading refiners to import more bonded low-sulphur bunker fuel to meet demand,” JLC said.
Additionally, few local distributors increased the bonded VLSFO imports as “more unit maintenance and export quota tightness triggered fears of a further decline in VLSFO output in the fourth quarter,” it added.
Russia became the biggest bonded bunker fuel supplier to China in September by shipping 214,000 mt of bonded bunker fuel. It accounted for about 55% of the country’s total imports, followed by Malaysia (16%) with 62,000 mt of bonded bunker fuel shipped to China in September.
Russia was the third biggest bonded bunker fuel supplier
Russia was the third biggest bonded bunker fuel supplier for China in August, with imports touching 91,300 mt during the month.
Meanwhile, Singapore became the third biggest supplier position in September with 60,900 mt of bonded bunker fuel shipped to China, accounting for nearly 16%, JLC said. “Shipments from South Korea were reduced to only 53,100 mt, accounting for 13.6% and bringing the country to the fourth place,” JLC added.
However, China’s total bonded bunker fuel imports in September decreased by 9% compared to September last year, JLC said. “Imports of high-sulphur bunker fuel [HSFO] and marine gas oil (MGO) largely stabilized at a normal level,” JLC further added.
China’s total bonded bunker fuel imports for the first nine months of the year stood at 2.88 million mt, down by 19% compared to the same period in 2022, JLC reported.
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Source: Engine
