Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for May 2025 with Manifold Times through an exclusive arrangement:
Bunker Fuel Demand
China’s daily bonded bunker fuel sales decrease in May
China’s daily bonded bunker fuel sales decreased last month, due to a cut in domestic low-sulfur fuel oil (LSFO) production.
The country sold about 1.79 million mt of bonded bunker fuel in May, with daily sales at 57,761 mt, slipping by 1.69% from a month earlier, JLC’s data shows.
Bonded bunker fuel sales by Chimbusco, Sinopec (Zhoushan), SinoBunker and China Changjiang Bunker (Sinopec) respectively settled at 480,000 mt, 580,000 mt, 50,000 mt and 28,000 mt in the month, while suppliers with regional bunkering licenses sold 652,600 mt.
Domestic refiners lowered their LSFO output amid more unit maintenance, leading to a decline in China’s daily bonded bunker fuel sales. However, the sales decline was capped to some degree by increasing demand for cargo transportation.
China’s LSFO output continues to fall in May
China’s LSFO output continued to fall in May, due to more refinery turnarounds and bad production margins.
Chinese refiners produced 955,000 mt of LSFO in the month, with the daily output at 30,806 mt, down by 11.39% month on month and 28.21% year on year, JLC’s data shows.
Independent refiners brought more units under maintenance, coupled with still bad production margins, weighing down China’s LSFO output.
Specifically, Sinopec’s LSFO production dropped moderately , as Shanghai Petrochemical and Zhenhai Refining and Chemical slashed their output. However, Qingdao Petrochemical boosted its output slightly, and Shengli Oilfield maintained high production. Tianjin Petrochemical and Hunan Petrochemical were still under maintenance, while Jiujiang Petrochemical came back online in mid-May and produced some LSFO.
PetroChina saw relatively stable production in May, as some refineries’ output cuts counteracted some others’ boosts. Jinxi Petrochemical has wrapped up maintenance and is expected to resume LSFO production in June.
CNOOC’s LSFO output fell in May, as Zhoushan Petrochemical, Zhongjie Petrochemical and Taizhou Petrochemical cut their production to various degrees.
ZPC and Sinochem did not produce any LSFO in May, but the latter exported 25,000 mt of MGO.


Domestic-trade heavy bunker fuel demand shrinks in May
Domestic-trade heavy bunker fuel demand shrank in May, as most shipowners just purchased on rigid demand when bearish sentiment dominated the market.
Domestic-trade heavy bunker fuel demand settled at 360,000 mt in the month, descending by 20,000 mt or 5.26% month on month, JLC’s data indicates.
In the meantime, domestic-trade light bunker fuel demand came in at 150,000 mt, without change month on month, the data shows. Diesel demand from the shipping industry weakened amid the fishing moratorium, while that from the agricultural industry strengthened amid the summer harvest.
Bunker Fuel Supply
China’s bonded bunker fuel imports retreat in April
China’s bonded bunker fuel imports retreated in April, as Chinese bonded bunker suppliers reduced their purchases of high-sulfur fuel oil (HSFO) after relatively large cargo arrivals in March.
Chinese bunker suppliers imported 525,500 mt of bonded bunker fuel in April, a cut of 21.07% month on month, JLC’s calculation shows, with reference to the GACC data.
Meanwhile, Chinese bonded bunker suppliers continued to import LSFO to meet demand when domestic production slipped further amid more refinery maintenance and bad production margins, and they kept the imports largely stable.
Bonded marine gas oil (MGO) imports remained normal in April.
Malaysia exported 139,300 mt of bonded bunker fuel to China in April, becoming the largest supplier to China.
Cargoes from Malaysia accounted for 26.52% of China’s total imports in the month. Brazil ranked second with 108,600 mt, taking 20.66%, while the UAE came in third with 100,800 mt, accounting for 19.18%. Russia climbed to the fourth place with 99,800 mt, accounting for 19.00%, while South Korea slid to the fifth place with 77,000 mt, occupying 14.64%.
On a year-on-year comparison, however, China’s bonded bunker fuel imports surged by 54.1 1% in April, which could be ascribed to growing bunkering demand.

Domestic-trade bunker fuel supply tightens in May
Domestic-trade bunker fuel supply tightened in May, as the availability of low-sulfur residual oil and shale oil decreased, also because of the suspension of the blending business in north and east China.
Blenders supplied about 370,000 mt of domestic-trade heavy bunker fuel in the month, down by 10,000 mt or 2.63% month on month, JLC’s data shows.
Blenders showed lower production interest amid insufficient blendstock supply . Refineries reduced their low-sulfur residual oil supply amid more maintenance, and their shale oil supply also tightened. In addition, the blending business in north and east China was still at a halt amid the negative impact of tax inspections.
At the same time, domestic-trade light bunker fuel supply settled at 160,000 mt, down by 10,000 mt or 5.88% month on month, the data shows. Refineries cut their diesel supply when more units came under maintenance.

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.
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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: 12 June, 2025