China’s bonded bunker fuel imports retreat in April - JLC

China's bonded bunker fuel imports slumped in April, according to market intelligence provider JLC.

IMAGE: The Chinese flag. Getty Images

China imported a total of 525,500 mt of bonded bunker fuel last month, marking a drop of 21% from the previous month, JLC reported citing data from China's General Administration of Customs (GACC).

The tightness in imports come as domestic refiners cut their HSFO purchase, "as their inventories were relatively high after an increase in cargo arrivals for March,” JLC reported.

Meanwhile, Chinese bonded bunker suppliers continued to import VLSFO to meet demand amid lower domestic production due to scheduled refinery maintenances and bad production margines.

Bonded MGO imports “remained normal” in April, JLC noted.

However, on a year-on-year comparison, the country’s bonded bunker fuel imports surged by 54.11% in April, “which could be ascribed to growing bunkering demand,” JLC said.

Malaysia and Brazil emerged as China's top bonded bunker fuel suppliers in April, shipping 139,300 mt and 108,600 mt respectively, followed by the UAE with 100,800 mt.

By Aparupa Mazumder

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