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JLC China Bunker Fuel Market Monthly Report (August 2024)

China’s bonded bunker fuel sales decreased in August, as LSFO supply tightened and the bunkering operation of Zhoushan Port was hit by ship congestion, according to JLC.

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JLC China Bunker Fuel Market Monthly Report (August 2024)

Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for August 2024 with Manifold Times through an exclusive arrangement:

China’s bonded bunker fuel sales decrease in August

China’s bonded bunker fuel sales decreased in August, as LSFO supply tightened and the bunkering operation of Zhoushan Port was hit by ship congestion.

The country sold about 1.72 million mt of bonded bunker fuel in the month, with the daily sales slipping by 1.65% month on month to 55,323 mt, JLC’s data shows.

Bonded bunker fuel sales by Chimbusco, Sinopec (Zhoushan), SinoBunker and China Changjiang Bunker (Sinopec) settled at 480,000 mt, 590,000 mt, 55,000 mt and 36,000 mt, respectively. Meanwhile, suppliers with regional bunkering licenses sold 554,000 mt, the data indicates.

China’s bonded bunker exports grow in July, but sales drop

China’s bonded bunker fuel exports grew in July after the customs clearance of some delayed shipments, but the country’s actual bunker fuel sales dropped amid lower domestic production.

The country exported about 1.76 million mt of bonded bunker fuel in the month, with the daily exports at 56,910 mt, up by 1.68% from the previous month and 9.14% from a year earlier, JLC 

estimated, with reference to data from the General Administration of Customs of PRC (GACC).

In breakdown, heavy bunker fuel exports settled at 1.66 million mt in July, accounting for 94.34% of the total, while light bunker fuel exports came in at 99,900 mt, accounting for 5.66%.

Despite rising exports, China’s actual sales of bonded bunker fuel decreased amid tighter LSFO supply. Domestic refiners sold about 1.74 million mt of bonded bunker fuel in July, with the daily sales at 56,248 mt, a fall of 5.08% month on month, JLC’s data shows.

Bonded bunker fuel exports are not equal to bonded bunker fuel sales, as the exports refer to the volume of cargoes flowing into bonded tankers while the sales refer to the actual volume of bunkering.

In January-July, China’s bonded bunker fuel exports totaled 11.36 million mt, a cut of 5.58% from the corresponding months in 2023. Heavy bunker fuel exports amounted to 10.71 million mt in the seven months, accounting for 94.30% of the total, while light bunker fuel exports stood at 647,600 mt, accounting for 5.70%.

JLC China Bunker Market Monthly Report (August 2024)

JLC China Bunker Market Monthly Report (August 2024)

Domestic-trade heavy bunker fuel demand continues to slip in August

Domestic-trade heavy bunker fuel demand continued to slip in August, mainly due to tepid shipping demand.

Domestic-trade heavy bunker fuel demand settled at 360,000 mt in the month, down by 10,000 mt or 2.70% month on month, JLC’s data shows. Shipowners showed lower buying interest in bunker fuel as downstream transportation demand weakened.

At the same time, domestic-trade light bunker fuel demand stood at 150,000 mt, without change from the prior month. Fundamentals in the light bunker fuel market did not change much, with most shipowners still basing their purchases on rigid demand.

Bunker Fuel Supply

China’s bonded bunker imports soar in July

China’s bonded bunker fuel imports soared in July, as HSFO demand grew rapidly.

The country imported 458,900 mt of bonded bunker fuel in the month, skyrocketing by 26.94% from the prior month and 37.39% from a year earlier, JLC estimated, with reference to data from the GACC.

Bonded distributors increased their HSFO imports, but they cut their MGO imports and did not import any LSFO in the month. Due to a decline in the economic efficiency of LSFO, some distributors basically suspended LSFO bunkering and shifted their focus to HSFO bunkering.

Malaysia was still the largest bonded bunker fuel supplier to China, with 257,800 mt, accounting for 56.19% of China’s total imports. Iraq remained in the second place with 154,000 mt, accounting for 33.57%, followed by South Korea with 43,500 mt, accounting for 9.48%. Singapore slipped to the fourth place with only 3,500 mt, which made up 0.76%.

China imported roughly 2.44 million mt of bonded bunker fuel in the first seven months of this year, a boost of 11.40% from the same months in 2023, speeding up from a rise of 6.72% in January-June.

JLC China Bunker Market Monthly Report (August 2024)

Domestic-trade heavy bunker fuel supply stabilizes in August

Domestic-trade heavy bunker fuel supply stabilized in August, as blenders maintained largely stable production. Chinese blenders supplied about 380,000 mt of heavy bunker fuel in the month, unchanged from July, with most cargoes supplied for previous orders, JLC’s data shows.

Domestic-trade MGO supply climbed to 170,000 mt in the month, a boost of 20,000 mt or 13.33% from a month earlier, the data shows. Domestic-trade light bunker fuel supply increased as some refineries raised their operating rates.

JLC China Bunker Market Monthly Report (August 2024)

Bunker Prices,Profits

JLC China Bunker Market Monthly Report (August 2024)

JLC China Bunker Market Monthly Report (August 2024)

JLC China Bunker Market Monthly Report (August 2024)

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JLC Network Technology Co., Ltd is recognized as the leading information provider in China. We specialized 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 (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: 12 September, 2024

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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.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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