China’s bonded bunker fuel imports rebound in May – JLC

China’s bonded bunker fuel imports rose by about 16% in May, reaching a total of 610,500 mt, according to market intelligence firm JLC.

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This represents a 97% year-on-year increase, JLC reported citing data from China's General Administration of Customs (GACC).

The rise in imports was driven by increased purchases of imported VLSFO by domestic refiners, as local supply tightened. Ongoing maintenance at refining units continued to reduce domestic VLSFO output, prompting bonded distributors to place more import orders, JLC said.

In May, Russia became China’s largest bonded bunker fuel supplier, moving up from fourth place in April, with 377,700 mt exported. Singapore followed with 144,500 mt, while South Korea came third, supplying 50,300 mt.

By Tuhin Roy

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