China’s bonded bunker fuel imports plunge in August – JLC

China’s bonded bunker fuel imports declined by about 24% month-on-month in August, totalling 489,600 mt, according to market intelligence firm JLC.

IMAGE: The Chinese flag. Getty Images

China’s bonded bunker fuel imports tumbled last month, primarily due to lesser HSFO imports amid relatively high inventories, according to JLC.

In contrast, Chinese bunker suppliers increased bonded VLSFO imports, while MGO inflows remained steady last month.

In August, Singapore was China’s top bonded bunker fuel supplier, accounting for nearly 30% of total imports with 145,100 mt. South Korea followed with a 26% share at 126,700 mt, then Malaysia with 23% at 110,100 mt, and Indonesia with 22% at 107,700 mt.

However, on a year-on-year basis, the country’s bonded bunker fuel imports surged by around 39% in August, according to JLC, citing data from China’s General Administration of Customs (GACC).

Overall, imports totalled approximately 4.34 million mt in the first eight months of the year, marking about a 56% year-on-year increase.

By Aparupa Mazumder

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