China boosted its bonded bunker fuel imports in October – JLC

China’s bonded bunker fuel imports surged in October, reaching its highest level since November 2021, market intelligence provider JLC reported.

PHOTO: Oil pump jacks with China's flag in the background. Getty Images

The country's bonded bunker fuel imports stood at 675,400 mt in October, up by 19% from the previous month and about 67% from the same time a year ago, JLC reported citing data from China’s General Administration of Customs (GACC).

A decline in domestic VLSFO production due to tighter export quotas, coupled with growing demand impacted the country’s total bonded bunker fuel imports during the month, JLC said. Some VLSFO cargoes that arrived in October were originally ordered in August and September, pushing October’s import levels, JLC said.

MGO imports were “largely stable,” in October, JLC said.

Malaysia (40%) remained China's biggest bonded bunker fuel supplier in October by shipping 271,300 mt of bonded bunker fuel, followed by Singapore (39%) and Russia (8%), which supplied 265,800 mt and 56,900 mt, respectively.

China’s total bonded bunker fuel imports in the first ten months of this year were about 4.03 million mt, an increase of about 23% from the same period last year.

By Aparupa Mazumder

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