China’s bonded bunker fuel imports soared in first two months - JLC

China's bonded bunker fuel imports surged in the first two months of this year, according to market intelligence provider JLC.

CONCEPT: Crude oil pump jacks with an upward arrow depicting the rise in imports, the Chinese flag in the background. Getty Images

China imported a total of 857,200 mt of bonded bunker fuel in January-February 2025, noting a significant surge of 47.31% from the same period last year, JLC reported citing data from China's General Administration of Customs (GACC).

The daily imports stood at 14,529 mt in the two months, up by 49.81% year-on-year. Tight VLSFO supply in domestic market led to the surge in bunker imports, JLC said.

The country’s bonded bunker fuel imports settled at 247,100 mt in January, down by 31.21% year-on-year, as Chinese refiners resumed VLSFO production after obtaining new export quotas.

In February, the total bonded bunker fuel imports stood at 610,100 mt, shooting up by 183.74% year-on-year. “Due to the Chinese New Year holiday, the customs clearance of some cargoes arriving in late January was delayed into February, leading to a sharp increase in February’s imports,” JLC said.

Malaysia (49%) was China's largest bonded bunker fuel supplier in January-February, shipping 416,600 mt, followed by Singapore (23%) with 199,600 mt and Brazil (17%) with 143,600 mt.

By Aparupa Mazumder

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