The world’s top crude oil buyer imported a total 171 million tonnes of crude oil from January to April 2022, according to data released by the General Administration of Customs on Monday (9 May).
The import volume in April was up 7% on year while the average import price increased by 54.3% to RMB 4,323.6 per tonne in the same month.
A local supplier on the Chinese mainland meanwhile told Manifold Times the supply of bunker fuel will be increasingly tight from May to June with all suppliers struggling to meet demand.
Most domestic refinery resources are heavily dependent on top refiner Sinopec Zhoushan while high import cost and low domestic refinery production also contribute to the scarce supply.
Domestic refineries have been unwilling to supply refined oil products, let alone bonded bunker fuel, said local suppliers.
If domestic bonded bunker suppliers refined imported oil locally, the cost would increase and they would be unable to compete with Singapore.
Last year, the overall Chinese mainland bonded oil price, especially in Zhoushan, was lower than Singapore but it remains to be seen if this will continue in the coming months.
It is understood that the current situation is expected to be difficult to be resolved in a short term period.
Photo credit: Dimitry Anikin on Unsplash
Published: 11 May, 2022
Container ships ordered today should be able to operate until the late 2040s provided that a viable propulsion system is chosen, highlights new DNV guidance.
The 416-ft. vessel, which will have the capacity for 12,000 m3 of LNG, will be operated by Crowley under a long-term charter with Shell NA LNG, LLC.
Move allows ZeroNorth platform to provide bunker optimisation to industry, alongside voyage and vessel optimisation recommendations.
Bond issued under Green Finance Framework which is designed to allow the company to issue a variety of sustainable financing instruments for supporting Maersk’s targets.
Standard Club previously published an article based on the outcome of the 74th session of IMO's Marine Environment Protection Committee (MEPC-74).
Fast Energy Sdn Bhd is currently exploring collaboration with a major Malaysian bunker supply firm operating at Port Klang; the operation will be supported by CCK Petroleum upon finalisation.
Program introduces periodic assessments, mass flow metering data analysis, and regular training for relevant key personnel to better handle the MFMS to ensure a high level of continuous operational competency.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Glencore purchased fuel through Straits Pinnacle which contracted supply from Unicious Energy. Contaminated HSFO was loaded at Khor Fakkan port and shipped to a FSU in Tanjong Pelepas, Malaysia to be further blended.
Individuals were employees of surveying companies engaged by Shell to inspect the volume of oil loaded onto the vessels which Shell supplied oil to; they allegedly accepted bribes totalling at least USD 213,000.
MPA preliminary investigations revealed that the affected marine fuel was supplied by Glencore Singapore Pte Ltd who later sold part of the same cargo to PetroChina International (Singapore) Pte Ltd.
‘MPA had immediately contacted the relevant bunker suppliers to take necessary steps to ensure that the relevant batch of fuel was no longer supplied. Further investigations are currently on-going,’ it informs.
