JLC: China’s Bonded Bunker Fuel Imports Drop In April

60

  • China’s bonded bunker fuel imports stood at about 341,000 mt in April, down 11% from the previous month and 17.6% compared to the same period last year.
  • Chinese importers reduced bonded HSFO purchases in April as bunker fuel sales dropped amid tight barge availability in major bunker hubs.

China’s bonded bunker fuel imports declined in April as high HSFO inventories led to lower buying interest among importers, reports Engine quoting the market intelligence provider JLC.

Bunker fuel imports decline

China’s bonded bunker fuel imports stood at about 341,000 mt in April, down 11% from the previous month and 17.6% compared to the same period last year, JLC reported citing data from China’s General Administration of Customs (GACC).

Chinese importers reduced bonded HSFO purchases in April as bunker fuel sales dropped amid tight barge availability in major bunker hubs in East China during the month, JLC said.

Most companies saw a drop in their bonded bunker fuel sales, leading to a build-up of HSFO [inventories in April],” JLC said.

Singapore (59.8%) became China’s biggest bonded bunker fuel supplier in April by shipping 204,100 mt of bonded bunker fuel, followed by Russia (31%) with 105,700 mt of bonded bunker fuel shipped to the Asian country.

China mainly imports HSFO and MGO for its bonded bunker fuel market, but some suppliers imported bonded VLSFO in April to meet demand amid tight domestic supply, JLC said.

Its total bonded bunker fuel imports in the first four months of this year were about 1.31 million mt, noting a surge of 24.8% year-on-year.

Did you Subscribe to our daily newsletter?

It’s Free! Click here to Subscribe!

Source: Engine