China’s bonded bunker fuel imports decline in October – JLC

China’s bonded bunker fuel imports decreased by 4.5% month-on-month in October, totalling 518,800 mt, according to market intelligence firm JLC.

IMAGE: The Chinese flag. Getty Images

China’s bonded bunker fuel imports retreated last month, primarily due to fewer arrivals of bonded HSFO and marine gas oil (MGO), according to JLC.

Chinese suppliers reduced HSFO and MGO imports “amid relatively lukewarm bunkering demand,” JLC reported. However, bonded VLSFO imports grew in October as domestic production continued to decline, it added.

In October, Malaysia was China’s top bonded bunker fuel supplier, accounting for nearly 70% of total imports with 341,600 mt. Singapore followed with a 17% share at 88,800 mt, and South Korea was close behind with 88,400 mt.

On a year-on-year basis, the country’s bonded bunker fuel imports fell by around 23% in October, according to JLC, citing data from China’s General Administration of Customs (GACC).

Overall, imports totalled approximately 5.4 million mt in the first ten months of the year, marking about a 34% year-on-year increase.

By Aparupa Mazumder

Please get in touch with comments or additional info to news@engine.online