China’s bonded bunker fuel imports fell in June - JLC

China’s bonded bunker fuel imports fell by approximately 11% in June, totalling 545,000 mt, according to market intelligence firm JLC.

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China’s bonded bunker fuel imports declined in June, primarily due to increased domestic production, according to JLC.

The domestic supply of VLSFO rose as several refineries completed maintenance and resumed output, which reduced the need for bonded VLSFO imports. Bonded MGO imports also saw a moderate decrease due to slightly higher domestic production, while bonded HSFO imports remained largely unchanged.

In June, Malaysia was China’s top bonded bunker fuel supplier, accounting for 32% of total imports with 173,000 mt. Singapore followed closely with a 31% share at 167,000 mt, then South Korea with 21% at 116,000 mt, and Iraq with 16% at 90,000 mt.

Despite the month-on-month dip, bonded bunker fuel imports surged by around 51% year-on-year in June, according to JLC, citing data from China’s General Administration of Customs (GACC).

Overall, imports totalled approximately 3.20 million mt in the first half of the year—marking a 62% year-on-year increase.

By Tuhin Roy

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