Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for March 2026 with Manifold Times through an exclusive arrangement:

Bunker Fuel Demand

China’s bonded bunker fuel sales rebound in March

China sold roughly 1.85 million mt of bonded bunker fuel in March, with the daily sales at 59,755 mt, up by 9.75% from the prior month and 9.64% from a year earlier, JLC’s data shows.

The country’s bonded bunker fuel sales rallied in March, as the shipping industry became more active amid work and production resumption after the Chinese New Year holiday.

Meanwhile, due to the conflict in the Middle East, many ships bypassed the Strait of Hormuz and arrived at Chinese ports, and they called for more bunker fuels for the longer voyage, which also drove up the country’s sales.

Regarding the sales by supplier, the sales by Chimbusco, Sinopec (Zhoushan), SinoBunker, and China Changjiang Bunker (Sinopec) respectively settled at 500,000 mt, 600,000 mt, 88,500 mt, and 15,000 mt in the month, while those by suppliers with regional bunkering licenses settled at 648,900 mt.

Chinese refiners ramp up LSFO production in March

Chinese refiners ramped up their LSFO production in March, as production margins improved amid surging LSFO prices and downstream demand increased.

These refiners produced 990,000 mt of LSFO in the month, with the daily output at 31,935 mt, a boost of 14.20% month on month, JLC’s data shows.

Sinopec’s LSFO output increased in the month, with Qingdao Petrochemical raising its output significantly.

Meanwhile, Shanghai Petrochemical and Shanghai Gaoqiao Petrochemical resumed their LSFO production after wrapping up maintenance.

PetroChina also recorded an output increase as several refineries, including Liaohe Petrochemical, Dalian WEPEC, Jinzhou Petrochemical, and Jinxi Petrochemical, boosted production.

CNOOC’s LSFO output climbed moderately . Zhoushan Petrochemical postponed the production of 40,000 mt for February, and these cargoes were delivered together with the 60,000 mt of LSFO for March. Zhongjie Petrochemical did not produce any LSFO in the month, while T aizhou Petrochemical and Huizhou Petrochemical lowered their daily output.

ZPC and Sinochem did not produce any LSFO in March, but the latter produced and exported 8,000 mt of MGO.

On a year-on-year comparison, however, China’s LSFO output fell by 12.00% in March, the data indicates.

Domestic-trade heavy bunker fuel demand strengthens in March

Domestic-trade heavy bunker fuel demand climbed to 340,000 mt in March, with the daily demand at 10,968 mt, up by 5.90% month on month, JLC’s data shows.

Shipowners increased purchases of heavy bunker fuel as their inventories became relatively low after the Chinese New Year holiday. However, the demand growth was not significant when some buyers adopted a cautious attitude towards surging bunker fuel prices.

By contrast, domestic-trade light bunker fuel demand settled at 130,000 mt in March, with the daily demand at 4,194 mt, a plunge of 16.13% month on month, the data shows. Buying interest in light bunker fuel was depressed by soaring prices.

Bunker Fuel Supply

China’s bonded bunker fuel imports surge in Jan-Feb

China’s bonded bunker fuel imports surged in the first two months of this year when domestic LSFO production decelerated.

Chinese bunker suppliers imported a total of 1.21 million mt of bonded bunker fuel in January-February, leaping by 41.44% year on year, JLC’s calculations show, based on the GACC data.

Domestic LSFO output fell significantly amid bad production margins, forcing bonded distributors to increase their imports to meet demand. The arrivals of bonded HSFO were still relatively high, while those of MGO were normal.

Singapore topped all suppliers in the two months, exporting about 435,300 mt of bonded bunker fuel to China, representing 35.90% of China’s total imports. Malaysia ranked second with about 380,000 mt, accounting for 31.34%, followed by South Korea with about 197,200 mt, accounting for 16.27%. Russia took the fourth place with about 158,000 mt, occupying 13.03%, while Japan ranked fifth with about 41,900 mt, accounting for 3.46%.

China’s bonded bunker fuel imports settled at 453,700 mt in January, a plunge of 46.52% month on month but an upsurge of 83.61% year on year, calculations show. The imports soared to 758,700 mt in February, up by 67.23% month on month and 24.36% year on year.

Domestic-trade heavy bunker fuel supply increases in March

Chinese blenders supplied 380,000 mt of domestic-trade heavy bunker fuel in March, with the daily supply at 12,258 mt, an increase of 14.41% month on month, JLC’s data shows.

Blenders boosted their heavy bunker fuel production as low-sulfur residual oil supply increased after the Chinese New Year holiday. Meanwhile, these blenders showed increasing production enthusiasm when downstream demand grew.

On the contrary, domestic-trade MGO supply settled at 160,000 mt in March, with the daily supply at 5,161 mt, a cut of 9.68% month on month, the data shows. Chinese refineries maintained low MGO production as crude supply tightened amid geopolitical tensions.

Bunker Prices, Profits

Editor
Yvette Luo
+86-020-38834382
[email protected] 

Sales (Beijing)
Tony Tang
+86-10-84428863
[email protected] 

Sales (Singapore)
Ginny Teo
+65-31571254
[email protected]
[email protected] 

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 Fuel Market Monthly Report (February 2026)
Related: JLC China Bunker Market Monthly Report (December 2025)
Related: JLC China Bunker Market Monthly Report (November 2025)
Related: JLC China Bunker Fuel Market Monthly Report (October 2025)
Related: JLC China Bunker Fuel Market Monthly Report (September 2025)
Related: JLC China Bunker Fuel Market Monthly Report (July 2025)
Related: JLC China Bunker Fuel Market Monthly Report (June 2025)
Related: JLC China Bunker Fuel Market Monthly Report (May 2025)
Related: [Updated 15 May] JLC China Bunker Market Monthly Report (April 2025)
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 April, 2026