China's low-sulphur marine fuel exports climb 38% y/y in March

[Photo: Reuters]

China's exports of low-sulphur marine fuels rose 38% in March from the previous year, General Administration of Customs data showed on Friday.
 

The exports, measured mostly by sales from bonded storage for vessels plying international routes, totalled 1.95 million tonnes.
 

Exports of marine fuel for the January-March quarter fell 7% to 4.74 million tonnes.
 

Bunkering demand at Chinese ports eased in the quarter, in line with sentiment at other bunker hubs including Singapore and Fujairah.
 

Prices of delivered marine fuel at the key Chinese bunker port of Zhoushan in March were similar to prices at Singapore, according to trade sources.
 

Meanwhile, total fuel oil imports in March more than doubled from a year earlier to 2.43 million tonnes.
 

Chinese independent refineries continued to seek fuel oil as an alternative feedstock to crude oil, industry sources said.
 

Imports into bonded storage, which includes both high-sulphur and low-sulphur materials, stood at 1.68 million tonnes.
 

The table below shows China’s fuel oil imports and exports in metric tonnes. The exports section largely captures China’s low-sulphur oil bunkering sales along its coast.

Source: Reuters

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