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JLC China Bunker Market Monthly Report (July 2022)

China’s bonded bunker fuel sales rebounded in July when domestic supply tightness eased and more bonded bunker suppliers launched business, JLC data showed.

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Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for July 2022 with Manifold Times through an exclusive arrangement:

Bunker Fuel Demand

Bonded bunker fuel sales rebound in July

China’s bonded bunker fuel sales rebounded in July when domestic supply tightness eased and more bonded bunker suppliers launched business.

The country’s bonded bunker fuel sales settled at around 1.68 mln mt in the month, a rally of 8.38% from June, JLC’s data shows.

Domestic supply increased as Chinese refineries’ production of LSFO surged in July. In addition, China National Offshore Oil Corporation (CNOOC) Sales (Shenzhen) Co., Ltd. started to supply bonded bunker fuel oil in July.

Chimbusco and Sinopec Zhoushan sold about 620,000 mt and 680,000 mt of bonded bunker fuel in July, JLC’s data indicates. Bonded bunker fuel sales for SinoBunker and China ChangJiang Bunker (Sinopec) were about 90,000 mt and 40,000 mt, respectively. Around 250,000 mt of of sales were made by suppliers who held local licenses, with PetroChina accounting for roughly 79,000 mt.

China’s bonded bunker fuel exports moved higher in June as the country further raised its LSFO production. The country exported about 1.51 million mt of bonded bunker fuel in June 2022, rising 2.37% from a month earlier, according to data from the General Administration of Customs of PRC (GACC).

Among these exports were roughly 1.41 million mt of heavy bunker fuel and 103,800 mt of light marine gas oil (MGO), accounting for 93.14% and 6.86% respectively.

Bonded bunker fuel exports by state-owned enterprises amounted to approximately 1.32 million mt in the month, accounting for 86.95%, while those by independent enterprises were 197,400 mt, accounting for 13.05%, the data indicates.

On a year-on-year comparison, the bonded bunker fuel exports fell by 14.10%, GACC data indicates.

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Domestic bunker fuel demand grows moderately in July

Domestic bunker fuel demand grew modestly in July when high temperatures at coastal regions caused more power consumption and fuel shipment.

The demand for domestic-trade heavy bunker fuel was around 400,000 mt in the month, growing by 80,000 mt or 25% month on month. Meanwhile, demand for light bunker fuel stabilized at roughly 150,000 mt, depressed by high prices.

Bunker Fuel Supply

Bonded bunker fuel imports hit 7-month high

China’s bonded bunker fuel imports leaped sharply and hit a 7-month high in June as domestic supply remained tight and Chinese suppliers’ stockpile was still low despite an increase in LSFO production.

China imported about 517,400 mt of bonded bunker fuel in June 2022, jumping 46.07% month on month, according to the data from the General Administration of Customs of PRC (GACC).

Though China ramped up its LSFO production in the month, the aggregate supply stayed relatively tight and failed to meet domestic demand. Most traders maintained low inventories amid insufficient supply and relatively abundant demand. Additionally, certain dealers who were optimistic about LSFO prices boosted their procurement of imported low-sulfur resources in the month with an expectation of rising bunker fuel prices in the short term.

In terms of the supplier, Malaysia overtook the UAE and ranked in the top position by exporting 277,800 mt of bonded bunker fuel to China, taking up 54% of China’s total bonded bunker fuel imports. The UAE slipped to second place with 180,600 mt, accounting for 35%. The followings were South Korea and Russia, with 41,000 mt from South Korea and 18,000 mt from Russia, accounting for 8% and 3% respectively. There was no imported bonded bunker fuel from Singapore during the month as the country’s LSFO supply continued to tighten and the supply of high-sulfur bunker fuel oil was affected by the contamination issue.

Despite a monthly surge in June, however, the bonded bunker fuel imports saw a drawdown from a year earlier, mainly as a result of softer demand amid the epidemic outbreaks. On a year-on-year comparison, the bonded bunker fuel imports dropped 16.28% in the month, GACC data indicates.

China tallied an accumulation of 2.45 million mt of imported bonded bunker fuel in the first half of this year, shrinking by more than a half from the first six months of 2021, GACC data also shows.

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Domestic blended bunker fuel supply extends gains in July

Chinese blenders supplied around 450,000 mt of heavy bunker fuel in total in July 2022, a rise of 70,000 mt or 18.4% from the previous month, JLC’s data shows.

In detail, the supply of low-sulfur asphalt, an important blendstock for heavy bunker fuel, increased in July when refineries’ operating rates climbed. Meanwhile, demand for coal-based diesel grew because of lower prices, and the supply of and demand for shale oil and light coal tar were largely balanced.

In contrast to the rise in heavy bunker fuel supply, the domestic marine gas oil (MGO) supply slipped to around 160,000 mt in the month, down by 10,000 mt or 5.88% from June.

Despite lower feedstock cost, blending margins were still low in July and blenders based their blending on rigid demand.

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Bunker Prices, Profits

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Yvette Luo
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Sales (Beijing)
Tony Tang
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Sales (Singapore)
Ginny Teo
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JLC Network Technology Co., Ltd is recognized as the leading information provider in China. We specialized in providing the transparent, high-value, authoritative market intelligence and professional analysis in commodity market. Our expertise covers oil, gas, coal, chemical, plastic, rubber, fertilizer and metal industry, etc.

JLC China Bunker Fuel Market Monthly Report is published by JLC Network Technology Co., Ltd every month on China bunker market, demand, supply, margin, freight index, forecast and so on. The report provides full-scale & concise insight into China bunker oil market.

All rights reserved. No portion of this publication may be photocopied, reproduced, retransmitted, put into a computer system or otherwise redistributed without prior authorization from JLC.

Related: JLC China Bunker Market Monthly Report (June 2022)
Related: JLC China Bunker Market Monthly Report (May 2022)
Related: JLC China Bunker Market Monthly Report (April 2022)
Related: JLC China Bunker Market Monthly Report (March 2022)
Related: JLC China Bunker Market Monthly Report (February 2022)
Related: JLC China Bunker Market Monthly Report (January 2022)

Note: China-based commodity market information provider JLC Technology has been providing Singapore bunkering publication Manifold Times China bunker volume data since 2020. Data from that period is available here.

Photo credit: JLC Network Technology
Published: 25 August, 2022

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Winding up

Singapore: High Court to hear Norvic Shipping Asia winding up application on 31 July

Application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to Government Gazette notice.

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RESIZED singapore high court

An application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to a Tuesday (21 July) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Judge sitting in the General Division of the High Court at 10am on 31 July.

Any creditor or contributory of the company desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose.

A copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the solicitors of the applicant’s, Oon & Bazul LLC, on payment of the regulated charge for the same.

The Applicant’s address is Hiridostraat 5, Gebouw Prismatrium, 1101CW Amsterdam, The Netherlands.

The Applicant’s solicitors are Oon & Bazul LLC of 103 Penang Rd, #04-04/05/06 Singapore 238467. 

Queries on the winding up application may be directed to the following email addresses: [email protected] and [email protected].

 

Photo credit: Manifold Times
Published: 22 July, 2026

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Methanol

World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Operation involved the delivery of approximately 2,800 MT of green methanol to “Arctic Tern” via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel “M/V Hai Gang Zhi Yuan”.

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World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Marine fuel provider World Fuel on Tuesday (21 July) said it successfully completed the first green methanol bunkering of M/V Arctic Tern, with EUKOR Car Carriers and SIPG Energy at the Port of Shanghai. 

Arctic Tern is the first vessel in the new Shaper Class series of car carriers. 

The operation involved the delivery of approximately 2,800 MT of green methanol to Arctic Tern via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel M/V Hai Gang Zhi Yuan, the largest vessel of its kind in operation. 

The bunkering operation was carried out at Haitong Terminal, Waigaoqiao Port Area, Shanghai Port, with cargo handling operations conducted simultaneously during bunkering.

This marks EUKOR Car Carriers’ first green methanol operation and the first time Arctic Tern has bunkered methanol since its delivery on 9 July. The operation marked the first bunkering at Shanghai Port of green methanol produced locally in Shanghai for an international PCTC operator. 

It also demonstrated the city’s integrated green methanol value chain, spanning local production, storage and bunkering, and established a replicable “Shanghai Model” for green methanol supply.

World Fuel arranged the supply and delivery of the fuel on behalf of EUKOR Car Carriers, working with SIPG Energy as the physical supplier at the Port of Shanghai.

The green methanol supplied was produced from municipal solid waste, ISCC-EU certified, and had a carbon intensity value below 25 gCO₂e/MJ.

Arctic Tern is the first of fourteen Shaper Class vessels ordered by Wallenius Wilhelmsen. With a capacity of 9,300 car equivalent units and methanol dual-fuel capability, the vessel will be operated by EUKOR Car Carriers, jointly owned by Wallenius Wilhelmsen and Hyundai Motor Group. Following her first green methanol bunkering, Arctic Tern will continue her maiden voyage from Asia to Europe.

Xavier Leroi, COO Shipping Services at Wallenius Wilhelmsen and CEO of EUKOR Car Carriers, said: “Completing Arctic Tern’s first green methanol bunkering shortly after delivery is a significant milestone towards our decarbonisation ambition for both EUKOR Car Carriers and Wallenius Wilhelmsen. It demonstrates how investments in next-generation vessel technology and fuel flexibility are being translated into real-world operations. 

“This achievement reflects the strong collaboration between all parties involved. Together, we have shown how partnerships across the maritime value chain can help make lower-emission fuels available and operationally viable at scale.”

Mark Tamsitt, SVP Global Marine Sales at World Fuel, said, “The first bunkering event with a new fuel is a significant moment for any shipowner, and our role is to make it as seamless as possible. By connecting EUKOR Car Carriers with SIPG Energy’s proven green methanol capability at the Port of Shanghai, we were able to deliver on reliable supply, fuel quality, and safe processes. As more of our customers bring methanol dual-fuel tonnage into service, we are committed to being the partner that makes these kinds of operations routine.”

Mr. Zhang Da, General Manager of SIPG Energy, said, “Welcoming Arctic Tern to the Port of Shanghai for her first green methanol bunkering demonstrates the strength and maturity of our supply capability. Building on our well-established methanol ship-to-ship bunkering services for container vessels, we have already extended such services to pure car and truck carriers (PCTCs). This bunkering sets a new record for the largest single SIMOPs green methanol bunkering for PCTCs in China, marking another step in building Shanghai’s position as a global green energy hub for international shipping.”

This operation follows Wallenius Wilhelmsen’s announcement on 9 July that Arctic Tern would complete her first methanol bunkering shortly after delivery. The vessel entered service on routes between Asia and Europe immediately following handover from China Merchants Jinling Shipyard in Nanjing.

 

Photo credit: World Fuel
Published: 22 July, 2026

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Ammonia

HPA and MB Energy develop safety concept for STS ammonia bunkering

HPA says the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

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HPA and MB Energy develop safety concept for STS ammonia bunkering

The Hamburg Port Authority (HPA) and integrated energy company MB Energy on Tuesday (21 July) said they have completed a comprehensive risk analysis and developed a dedicated safety concept for ship-to-ship ammonia bunkering.

MB Energy said the analysis lays the groundwork for the safe introduction of ammonia as a future marine fuel.

“With our planned ammonia import terminal in Hamburg-Blumensand, MB Energy intends to provide the reliable land side supply infrastructure needed to support this transition across northern German ports,” it said in a social media post. 

Mabanaft Group was renamed to MB Energy last year and merged over 50 existing brands under one identity. 

Separately, HPA said the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

“The focus is in particular on container ships, cruise ships as well as RoRo and ConRo (Container/RoRo) ships,” it said. 

“We expect ammonia to establish itself as an alternative marine marine fuel in the coming years. With our preparatory work, we are already creating the conditions to welcome the first ammonia-powered ships in Hamburg and to bunker them safely.:

HPA added that the import terminal for ammonia planned by MB Energy from 2029 will make a decisive contribution to ensuring the reliable availability of ammonia as a bunker fuel in northern German ports in the long term. 

“The use of an ammonia bunker barge is considered a possible addition to the landside infrastructure to enable ship bunkering in the port and beyond in the future,” it said.

Related: Mabanaft Group renames as MB Energy, merging over 50 brands under one identity

 

Photo credit: Hamburg Port Authority
Published: 22 July, 2026

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