Imports of Chinese bonded bunker fuel grew in March – JLC

China imported a total of 665,800 MT Bunker fuel bound last month, marking a significant surge of 73.7% from the same period last year, JLC reported quoting data from the General Administration of Customs and Excise (GACC) China.

This increase was driven by a strict supply of VLSFO in the domestic market and the lower price of international bunker fuels, said JLC.

Domestic Chinese Rectors continue to cut their VLSFO production in the midst of more unit maintenance and lower production margins, “Forcing Distributors [bunker fuel suppliers] To increase their imports to meet demand, “said JLC.

The price of bunker fuel decreases together with a decrease in global crude oil benchmarks, encouraging domestic traders to increase imports, the agent said.

UAE and Singapore emerged as suppliers of Bunker Bunker Top China in March, each delivery of around 200,000 MT, followed by Malaysia with 168,000 MT.
Source: Machine