China’s bonded bunker fuel imports rallied in July - JLC

China’s bonded bunker fuel imports grew by about 18% month-on-month in July, totalling 643,200 mt, according to market intelligence firm JLC.

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China’s bonded bunker fuel imports surged last month, primarily due to increased demand for bonded HSFO, according to JLC.

Chinese bunker suppliers increased HSFO imports and cut back on VLSFO purchases, while MGO inflows remained steady last month.

In July, Malaysia was China’s top bonded bunker fuel supplier, accounting for 33% of total imports with 212,700 mt. Singapore followed closely with a 32% share at 206,700 mt, then Russia with 24% at 151,300 mt, and South Korea with 11% at 72,500 mt.

On a year-on-year basis, the country’s bonded bunker fuel imports surged by around 40% in July, according to JLC, citing data from China’s General Administration of Customs (GACC).

Overall, imports totalled approximately 3.85 million mt in the first seven months of the year, marking a 58% year-on-year increase.

By Aparupa Mazumder

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