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Bunker Fuel

[Updated 15 May] JLC China Bunker Market Monthly Report (April 2025)

Country sold about 1.76 million mt of bonded bunker fuel in the month, with daily sales at 58,757 mt, climbing by 7.80% month on month, JLC’s data shows.

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JLC China Bunker Market Monthly Report (April 2025)

Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for April 2025 with Manifold Times through an exclusive arrangement:

Note [15 May]: JLC has removed two ship arrivals from the table in Sheet 13 “Arrival of Imported Fuel Oil”, as these cargoes were scheduled to arrive in May instead of April. In the first version of this report, the arrival time of the cargoes was mistakenly written as April. JLC apologizes for this mistake.

Bunker Fuel Demand

China’s bonded bunker fuel sales grow in April

China’s bonded bunker fuel sales grew in April, as shipping demand improved.

The country sold about 1.76 million mt of bonded bunker fuel in the month, with daily sales at 58,757 mt, climbing by 7.80% month on month, JLC’s data shows.

Bonded bunker fuel sales by Chimbusco, Sinopec (Zhoushan), SinoBunker and China Changjiang Bunker (Sinopec) settled at 450,000 mt, 580,000 mt, 45,000 mt and 25,000 mt in the month, while suppliers with regional bunkering licenses sold 662,700 mt.

HSFO sales increased when the price spread between LSFO and HSFO widened.

China’s LSFO output declines further in April

China’s LSFO output declined further in April, as more refineries launched maintenance, also because of still bad production margins.

Chinese refiners produced 1.04 million mt of LSFO in the month, with the daily output at 34,767 mt, down by 4.20% month on month and 15.96% year on year, JLC’s data indicates.

Sinopec’s LSFO production fell in the month as Tianjin Petrochemical and Hunan Petrochemical came under maintenance. The company’s Shanghai Gaoqiao Petrochemical and Jiujiang Petrochemical were still under turnarounds. In addition, Qingdao Petrochemical and Shengli Oilfield lowered their LSFO output.

PetroChina also recorded a drop in its output in April, with Liaohe Petrochemical slightly cutting output and Jinxi Petrochemical suspending production amid unit maintenance.

On the flip side, CNOOC saw a modest rise in its daily LSFO output, as Zhoushan Petrochemical’s production boost counteracted Huizhou Refinery’s maintenance. Zhongjie Petrochemical and Taizhou Petrochemical maintained normal production.

ZPC and Sinochem did not produce any LSFO in April, but the latter exported 15,000 mt of MGO.

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Domestic-trade heavy bunker fuel demand rallies in April

Domestic-trade heavy bunker fuel demand rallied in April, as shipowners showed higher buying interest and restocking increased before the Labor Day holiday.

Domestic-trade heavy bunker fuel demand settled at 380,000 mt in the month, growing by 20,000 mt or 5.56% month on month, JLC’s data shows.

At the same time, domestic-trade light bunker fuel demand stabilized at 150,000 mt, the data shows. Fundamentals in the diesel market did not change much.

Bunker Fuel Supply

China’s bonded bunker fuel imports continue to grow in March

China’s bonded bunker fuel imports continued to grow in March, due to tighter domestic supply and lower international bunker fuel prices.

Bonded distributors imported 665,800 mt of bonded bunker fuel in the month, rising by 9.13% from a month earlier and 73.70% year on year, JLC calculated, with reference to data from the GACC.

Domestic refiners continued to cut their LSFO production amid more unit maintenance and lower production margins, forcing distributors to raise their imports to meet demand. Meanwhile, global bunker fuel prices dropped amid a plunge in international crude prices, which also prompted domestic traders to increase imports.

The UAE shipped 200,200 mt of bonded bunker fuel to China in March, taking 30.06% of China’s total

imports and becoming the largest bonded bunker supplier to China. Singapore remained in the second place with 200,000 mt, accounting for 30.04%, while Malaysia came in third with 168,000 mt, accounting for 25.24%. South Korea ranked fourth with 55,200 mt, accounting for 8.29%, followed by Russia with 42,400 mt, occupying 6.37%.

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Domestic-trade bunker fuel supply increases in April

Domestic-trade bunker fuel supply increased in April, because of increasing availability of shale oil and low-sulfur residual oil, though the blending business in East China did not resume.

Blenders supplied about 380,000 mt of domestic-trade heavy bunker fuel in the month, a boost of 30,000 mt or 8.57% month on month, JLC’s data shows.

Blendstock supply became relatively sufficient, as supply of low-sulfur residual oil and shale oil increased while that of light coal tar and coal-based diesel stabilized. Meanwhile, blenders showed higher blending interest as downstream restocking demand grew.

Heavy bunker fuel supply increased in North China and Shandong, while that in East China was still depressed by a halt in the local blending business.

Domestic-trade light bunker fuel supply settled at 170,000 mt in April, up by 20,000 mt or 13.33% month on month, the data shows.

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Bunker Prices, Profits

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JLC Network Technology Co., Ltd is recognised as the leading information provider in China. We specialise 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 (February 2025)
Related: JLC China Bunker Fuel Market Monthly Report (January 2025)
Related: JLC China Bunker Fuel Market Monthly Report (December 2024)
Related: JLC China Bunker Fuel Market Monthly Report (November 2024)
Related: JLC China Bunker Fuel Market Monthly Report (October 2024)
Related: JLC China Bunker Fuel Market Monthly Report (September 2024)
Related: JLC China Bunker Fuel Market Monthly Report (August 2024)
Related: JLC China Bunker Fuel Market Monthly Report (July 2024)
Related: JLC China Bunker Fuel Market Monthly Report (June 2024)
Related: JLC China Bunker Fuel Market Monthly Report (May 2024)
Related: JLC China Bunker Market Monthly Report (April 2024)
Related: JLC China Bunker Market Monthly Report (March 2024)
Related: JLC China Bunker Fuel Market Monthly Report (February 2024)
Related: JLC China Bunker Market Monthly Report (January 2024)

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 earlier periods are available here.

 

Photo credit: JLC Network Technology
Published: 13 May, 2025

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

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Photo credit: DNV
Published: 4 September, 2026

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