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Bunker Fuel Availability

Baltic Exchange: Bunker Report (5 October, 2023)

Prices are down across the board compared to last week, with HSFO grades taking the biggest hits; LSMGO is down 10% in ARA and -9% in Singapore as well.

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The following bunker report has been provided by freight market information provider Baltic Exchange for post on Singapore bunkering publication Manifold Times:

Commentary:

Prices are down across the board compared to last week, with HSFO grades taking the biggest hits. 380 is down ~17% in Singapore, 13% in Fujairah, and 14% in ARA. Compliance fuels are also off, though not to the same degree. LSMGO is down 10% in ARA and -9% in Singapore as well. Uncertainty from geopolitics seems to be depressing prices, rather than inspiring any upward moves. Volatility is high in ARA, with significant price swings on LSMGO. Also in contrast to the price action, supplies are beginning to tighten in Houston and Fujairah, but not enough to move the market back up. Stems in Singapore are looking to end of next week for delivery on most grades.

Note:

All values are in US$/metric ton, all-in (invoice price), delivered on board
Delivery in 7-10 days
ISO 8217:2010
IFO 380 3.5% Sulphur
IFO 380 0.5% Sulphur
DMA 0.1% Sulphur

Rotterdam – Waalhaven – Maasvlakte range
Houston – Houston Harbor
Singapore – Anchorage, under SBA Scheme
Fujairah – Offshore Anchorage Area

Submitted weekly at Close of Business on Thursdays

Panellists:
Island Oil Limited, Cockett Marine Oil Pte, Monjasa A/S, KPI OceanConnect, Transparensea Fuels 

Photo credit and source: Baltic Exchange
Published: 6 October, 2023

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Bunker Fuel Availability

Baltic Exchange: Bunker Report (13 February 2025)

Bunker report panellists include Island Oil Limited, Cockett Marine Oil Pte, Monjasa A/S and KPI OceanConnect.

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Baltic Exchange: Bunker Report (13 February 2025)

The following bunker report has been provided by freight market information provider Baltic Exchange for post on Singapore bunkering publication Manifold Times:

Note:

All values are in US$/metric ton, all-in (invoice price), delivered on board
Delivery in 7-10 days
ISO 8217:2010
IFO 380 3.5% Sulphur
IFO 380 0.5% Sulphur
DMA 0.1% Sulphur

Rotterdam – Waalhaven – Maasvlakte range
Houston – Houston Harbor
Singapore – Anchorage, under SBA Scheme
Fujairah – Offshore Anchorage Area

Submitted weekly at Close of Business UK time Daily

Panellists:
Cockett Marine Oil Pte, Island Oil Limited, KPI OceanConnect, Monjasa A/S, NSI Marine and Transparensea Fuels

 

Photo credit and source: Baltic Exchange
Published: 14 February, 2025

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Bunker Fuel

JLC China Bunker Fuel Market Monthly Report (January 2025)

China’s bonded bunker fuel sales rebounded in January with 1.64 million mt of bonded bunker fuel sold, as domestic LSFO supply increased after the release of new export quotas, according to JLC data.

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JLC China Bunker Fuel Market Monthly Report (January 2025)

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

China’s bonded bunker fuel sales rebound in January

China’s bonded bunker fuel sales rebounded in January, as domestic low-sulfur fuel oil (LSFO) supply increased after the release of new export quotas.

The country sold roughly 1.64 million mt of bonded bunker fuel in the month, with daily sales at 52,806 mt, gaining 2.87% month on month, JLC’s data shows.

Bonded bunker fuel sales by Chimbusco, Sinopec (Zhoushan), SinoBunker and China Changjiang Bunker (Sinopec) settled at 480,000 mt, 570,000 mt, 55,000 mt and 26,000 mt in the month, while those by suppliers with regional bunkering licenses settled at 506,000 mt.

Most companies recorded higher bonded bunker fuel sales in the month, as domestic LSFO production returned to normal after China released the first batch of LSFO export quotas for 2025. Capping the upside, however, bunkering operations at Chinese ports were slowed down by the Chinese New Year holiday in late January.

China’s bonded bunker fuel exports edge down in 2024

China’s bonded bunker fuel exports edged down in 2024, as domestic refiners cut their production in view of quota tightness.

The country exported 19.63 million mt of bonded bunker fuel in the year, a modest cut of 0.24% year on year, JLC calculated, with reference to data from the General Administration of Customs of PRC (GACC).

Among the shipments, heavy bunker fuel exports settled at 18.33 million mt, accounting for 93.38%, while light bunker fuel exports settled at 1.30 million mt, accounting for 6.62%.

In December alone, China’s bonded bunker fuel exports were roughly 1.44 million mt, dropping by 20.90% month on month and 9.47% year on year, JLC calculated, with reference to the GACC data. In breakdown, heavy bunker fuel exports settled at 1.35 million mt, occupying 93.54%, while light bunker fuel exports came in at 93,000 mt, making up 6.46%.

JLC China Bunker Fuel Market Monthly Report (January 2025)

JLC China Bunker Fuel Market Monthly Report (January 2025)

Domestic-trade bunker fuel demand shrinks in January

Domestic-trade bunker fuel demand shrank in January, as trade in the shipping market was relatively thin during the Chinese New Year holiday.

Domestic-trade heavy bunker fuel demand was estimated at 390,000 mt in the month, down by 10,000 mt or 2.50% from the previous month, JLC’s data shows. At the same time, domestic light bunker fuel demand settled at 130,000 mt, slipping by 10,000 mt or 7.14% month on month.

Bunker fuel demand witnessed a modest increase in early January, buoyed by pre-holiday restocking. However, demand declined later in the month, as the majority of downstream buyers had completed their restocking.

Bunker Fuel Supply

China’s bonded bunker fuel imports surge in 2024

China’s bonded bunker fuel imports surged in 2024, which could mainly be ascribed to tight domestic supply.

China imported a total of 6.04 million mt of bonded bunker fuel last year, soaring by 45.92% year on year, JLC calculated, with reference to data from the GACC.

Only a few bonded distributors imported LSFO in the first half of 2024, while others prioritized imported high-sulfur fuel oil (HSFO). However, in the second half, domestic LSFO supply tightened significantly amid insufficient quotas, forcing bonded distributors to import more LSFO to fill the gap. Meanwhile, demand for imported HSFO continued to improve, as more ships were equipped with scrubbers and the import arbitrage window opened.

In December alone, China’s bonded bunker fuel imports exceeded 1 million mt and hit a 4-year high, as domestic LSFO output fell off a cliff amid persistent quota tightness. The imports amounted to 1.09 million mt in the month, jumping by 19.58% month on month and 247.21% year on year.

Singapore topped all suppliers by shipping 550,700 mt of bonded bunker fuel to China in the month, which accounted for 50.32% of the latter’s total imports. Malaysia slipped to the second place with 351,200 mt, accounting for 32.09%. Iraq and South Korea ranked third and fourth with 182,500 mt and 10,000 mt, accounting for 16.68% and 0.91%, respectively.

JLC China Bunker Fuel Market Monthly Report (January 2025)

Domestic-trade bunker fuel supply tightens in January

Domestic-trade bunker fuel supply tightened in January, because of decreasing availability of blendstock.

Chinese blenders supplied about 400,000 mt of domestic-trade heavy bunker fuel in the month, a cut of 30,000 mt or 6.98% from a month earlier, JLC’s data indicates.

Supply of residual oil, shale oil and light coal tar tightened, forcing blenders to decelerate their bunker fuel production. Meanwhile, blendstock prices fluctuated higher amid tighter supply, which also dampened some blenders’ buying interest.

Domestic-trade light bunker fuel supply settled at 150,000 mt in January, down by 10,000 mt or 6.25% month on month, the data shows. Refineries continued to lower their operating rates, because of the Chinese New Year holiday and stricter industry regulations.

JLC China Bunker Fuel Market Monthly Report (January 2025)

BunkerPrices, Profits

JLC China Bunker Fuel Market Monthly Report (January 2025)

JLC China Bunker Fuel Market Monthly Report (January 2025)

JLC China Bunker Fuel Market Monthly Report (January 2025)

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 (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 February, 2025

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Bunker Fuel Availability

ENGINE: Europe & Africa Bunker Fuel Availability Outlook (12 Feb 2025)

Prompt LSMGO supply good in the ARA; VLSFO and LSMGO supply improves in Gibraltar; low bunker demand off Malta.

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RESIZED ENGINE Europe and Africa

The following article regarding Europe and Africa bunker fuel availability has been provided by online marine fuel procurement platform ENGINE for post on Singapore bunkering publication Manifold Times:

  • Prompt LSMGO supply good in the ARA
  • VLSFO and LSMGO supply improves in Gibraltar
  • Low bunker demand off Malta 

Northwest Europe

HSFO and VLSFO remain tight for prompt deliveries in the ARA hub. Lead times for both grades are 5-7 days, unchanged from last week. LSMGO availability is comparatively better, requiring lead times of 3-5 days. 

The ARA’s independently held fuel oil stocks have decreased by 8% so far this month compared to January, according to Insights Global data.

The region has imported 282,000 b/d of fuel oil, a slight dip from 298,000 b/d imported in January, according to data from cargo tracker Vortexa.  

Lithuania (28% of the total) has emerged as the region’s biggest fuel oil import source, followed by Denmark (17%), Sweden and the UK (15% each), Poland (10%), and Finland and Germany (8% each).

The ARA hub’s independent gasoil inventories - which include diesel and heating oil – have averaged 4% higher. The region has imported 168,000 b/d of gasoil and diesel, down from 194,000 b/d b/d imported in January, according to Vortexa data.

Bunker supply is good in the German port of Hamburg. Lead times remain consistent at 3-5 days for all three grades, a trader said.  

Mediterranean

VLSFO and LSMGO supply has improved in Gibraltar. According to a trader, recommended lead times for both grades have reduced from 7-8 days last week to 3-5 days now. Lead times for HSFO have been consistent since last week at 5-7 days. 

Calm weather conditions are forecast in Gibraltar this week, which would enable smooth bunker deliveries. However, strong wind gusts of up to 27 knots are forecast to hit on Monday, potentially disrupting bunkering.  

Bunker supply has also improved in the Canary Islands’ port of Las Palmas. Suppliers can now offer prompt deliveries across all three grades. Lead times of 3-5 days are advised for optimal coverage. Bunker operations are currently running normally in Las Palmas amid conducive weather conditions. 

Availability of all three grades is normal in the Spanish port of Barcelona. Recommended lead times are 3-5 days.    

Meanwhile, other Mediterranean bunker locations like Piraeus, Istanbul and Malta Offshore have reported muted demand this week, with low to negligible demand particularly reported off Malta, a trader told ENGINE.

VLSFO and LSMGO availability is normal in the Greek port of Piraeus, the trader said. HSFO supply is subject to enquiry.

Bunker availability is normal across all three grades off Malta. Lead times of 3-5 days are recommended for full coverage from suppliers.  

Turkey’s Istanbul port has good bunker availability. Bunkering is proceeding normally in the port. 

Africa

VLSFO availability is tight for prompt delivery dates in the South African ports of Durban and Richards Bay, a trader said. Lead times remain unchanged from last week at 7-10 days.

LSMGO is still dry in Durban, a trader said. Suppliers ran out of LSMGO stocks in the last week of January. 

Bunker supply is normal in Mauritius’ Port Louis, according to a trader. Suppliers are able to offer stems for prompt deliveries. Lead times of 5-7 days are advised for all three grades.  

By Manjula Nair

 

Photo credit and source: ENGINE
Published: 13 February, 2025

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