Bunker Fuel

JLC China Bunker Fuel Market Monthly Report (February 2026)

China sold about 1.52 million mt of bonded bunker fuel in February, with the daily sales at 54,446 mt, down by 7.07% month on month, JLC’s data shows.

Published

4 months ago

March 12, 2026

Admin

JLC China Bunker Fuel Market Monthly Report (February 2026)

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

Bunker Fuel Demand

China’s bonded bunker fuel sales decline in February

China sold about 1.52 million mt of bonded bunker fuel in February, with the daily sales at 54,446 mt, down by 7.07% month on month, JLC’s data shows. Cargo transportation and customs clearance slowed down during the Chinese New Year holiday in mid-February, leading to a decline in the country’s sales. Meanwhile, buying interest was somewhat depressed by strong winds at certain Chinese ports, with most deals made for rigid demand.

Regarding the sales by supplier, the sales by Chimbusco, Sinopec (Zhoushan), SinoBunker, and China Changjiang Bunker (Sinopec) respectively settled at 400,000 mt, 520,000 mt, 60,000 mt, and 20,000 mt in the month, while those by suppliers with regional bunkering licenses settled at 524,500 mt.

On a year-on-year comparison, however, China’s bonded bunker fuel sales inched up by 0.17% in February.

China’s daily LSFO output continues to rise in February

China’s daily LSFO output continued to rise in February, mainly as a result of CNOOC’s boost in its production.

The country’s LSFO output settled at 783,000 mt in February, with the daily output at 27,964 mt, a rise of 5.08% from January, JLC’s data shows.

CNOOC’s Zhoushan Petrochemical originally planned to produce 80,000 mt of LSFO in January, but no production was actually carried out in the month due to equipment failure. As a result, the refinery postponed the production to February, and the production of 40,000 mt for February will be postponed to March. In addition, Taizhou Petrochemical and Huizhou Petrochemical ramped up their daily production.

On the contrary, Sinopec’s LSFO output dropped in February, because of low production margins and relatively tepid bunkering demand. Most refineries lowered their daily output, but Shengli Oilfield and Qingdao Petrochemical boosted their production moderately.

PetroChina’s LSFO output also fell, with several refineries, including Dalian WEPEC, Jinzhou Petrochemical, Jinxi Petrochemical, and Dagang Petrochemical, decelerating production.

ZPC did not produce any LSFO in February.

Sinochem restarted its units in late January after maintenance, but it did not resume LSFO production in February. The company plans to resume production and export of LSFO in March.

On a year-on-year comparison, China’s LSFO output slumped by 31.91% in February, the data indicates. The slump was ascribed to poor margins.

Screenshot 2026 03 12 at 12.45.06 PM

Screenshot 2026 03 12 at 12.45.16 PM

Domestic-trade heavy bunker fuel demand weakens in February

Domestic-trade heavy bunker fuel demand settled at 290,000 mt in February, with the daily demand at 10,357 mt, down by 10.81% month on month, JLC’s data shows.

Trade in the shipping market was relatively weak during the Chinese New Year holiday, and most shipowners gave priority to consuming their stockpiles after the holiday. In addition, bunkering demand in North China was hit hard, as cargo transportation and port operations in the region were suspended temporarily due to the annual sessions of the National People’s Congress and the Chinese People’s Political Consultative Conference, which would be held in March.

By contrast, domestic-trade light bunker fuel demand stood at 140,000 mt in February, with the daily demand at 5,000 mt, up by 3.33% month on month, the data shows.

Bunker Fuel Supply

China’s bonded bunker fuel imports hit 12-month high in Dec 2025

China’s bonded bunker fuel imports hit a 12-month high in December 2025, mainly due to tightening supply of LSFO in the country.

Chinese bunker suppliers imported 848,300 mt of bonded bunker fuel in the month, rising by 5.25% month on month, JLC’s calculations show, based on the GACC data. The imports reached the highest level since December 2024.

Bonded distributors boosted their LSFO imports to meet bunkering demand when domestic production plunged rapidly amid export quota tightness. Meanwhile, their imports of MGO increased slightly. In addition, the arrivals of HSFO stayed relatively high in the month, as HSFO bunkering still had economic benefits.

Regarding the imports by source, Singapore ranked first among all suppliers with 301,800 mt, accounting for 35.58% of China’s total imports. Malaysia came second with 195,900 mt, accounting for 23.09%, while South Korea ranked third with 170,400 mt, taking 20.09%. Russia ranked fourth with 164,500 mt, occupying 19.39%, followed by Japan, with 15,700 mt, accounting for 1.85%.

On a year-on-year comparison, however, China’s bonded bunker fuel imports tumbled by 22.49% in December 2025, calculations show. The imports exceeded 1 million mt and hit a 4-year high in December 2024.

China’s bonded bunker fuel imports totaled 7.05 million mt in 2025, soaring by 16.76% from the prior year, calculations also indicate.

(Note: The GACC has not released the breakdown export and import data for January 2026, and JLC will follow up.)

Screenshot 2026 03 12 at 12.45.38 PM

Domestic-trade bunker fuel supply tightens in February

Chinese blenders supplied 300,000 mt of domestic-trade heavy bunker fuel in February, with the daily supply at 10,714 mt, a cut of 7.74% from a month earlier, JLC’s data shows.

Blenders reduced their bunker fuel supply as the availability of low-sulfur residual oil decreased amid the Chinese New Year holiday. These blenders just based their production on sales when downstream buying interest was relatively low.

Domestic-trade MGO supply settled at 160,000 mt in February, with the daily supply at 5,714 mt, down by 1.59% month on month, the data shows. Refineries maintained relatively low diesel inventories, and cargo delivery was not smooth during the holiday.

Screenshot 2026 03 12 at 12.46.01 PM

Bunker Prices, Profits

Screenshot 2026 03 12 at 12.46.22 PM

Screenshot 2026 03 12 at 12.46.31 PM

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.

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 March, 2026

Up Next

ElbOil at 15: Marine fuel trader reflects on expansion and energy transition in bunkering

Don't Miss

IINO Kaiun Kaisha completes biofuel trial voyage on bulk carrier “YODOHIME”

Bunker Fuel

JLC China Bunker Fuel Market Monthly Report (June 2026)

China’s bonded bunker fuel sales rebounded in June, as bunkering demand grew modestly and bonded bunker fuel prices in domestic ports were still competitive amid sufficient supply, says JLC.

Published

2 days ago

July 10, 2026

Admin

JLC China Bunker Fuel Market Monthly Report (June 2026)

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

Bunker Fuel Demand

China’s bonded bunker fuel sales rebound in June

China’s bonded bunker fuel sales rebounded in June, as bunkering demand grew modestly and bonded bunker fuel prices in domestic ports were still competitive amid sufficient supply.

The country sold about 1.92 million mt of bonded bunker fuel in the month, with the daily sales at 63,980 mt, up by 5.53% month on month, JLC’s data shows.

Regarding the sales by supplier, the sales by Chimbusco, Sinopec (Zhoushan), SinoBunker, and ChinaChangjiang Bunker (Sinopec) respectively settled at 400,000 mt, 650,000 mt, 80,000 mt, and 10,000 mt inthe month, while those by suppliers with regional bunkering licenses settled at 779,400 mt.

China’s daily LSFO output hits 24-month high in June

China’s daily low-sulfur fuel oil (LSFO) output hit a 24-month high in June, because of the release of new export quotas and good production margins.

Chinese refiners produced about 1.31 million mt of LSFO in the month, with the daily output at 43,567 mt, the highest since June 2024, JLC’s data shows. The daily output rose by 13.68% month on month and 27.89% year on year.

Specifically, PetroChina recorded a surge in its LSFO output. Most refineries, including Liaohe Petrochemical, Dalian WEPEC, Jinzhou Petrochemical, Jinxi Petrochemical, and Dagang Petrochemical, boosted their production. Meanwhile, CNOOC’s LSFO output increased moderately, as its Taizhou Petrochemical resumed production after maintenance. Zhongjie Petrochemical did not produce any LSFO as it was still under maintenance, while Huizhou Refinery maintained stable production. Zhoushan Petrochemical’s LSFO output decreased in the month, but it was still relatively high.

On the other hand, Sinopec’s LSFO output slipped slightly in June, with Shengli Oilfield, Shanghai Petrochemical, and Shanghai Gaoqiao Petrochemical cutting their production. However, Maoming Petrochemical and ZhongKe (Guangdong) Refinery & Petrochemical maintained stable production, while Qingdao Petrochemical raised its output modestly. ZPC and Sinochem did not produce any LSFO in the month, but the latter produced and exported 10,000 mt.

Screenshot 2026 07 10 at 1.28.43 PM

Screenshot 2026 07 10 at 1.28.54 PM

Domestic-trade bunker fuel demand mixed in June

Domestic-trade heavy bunker fuel demand improved modestly and exceeded supply in June. The demand settled at 310,000 mt in the month, with the daily volume at 10,333 mt, inching up by 0.10%month on month, JLC’s data shows. By contrast, domestic-trade light bunker fuel demand settled at 150,000 mt in the month, with the daily volume at 5,000 mt, down by 3.12% month on month, the data shows. Bearish sentiment lingered in the light bunker fuel market, and buying interest was limited.

Bunker Fuel Supply

China’s bonded bunker fuel imports hit 16-month low in May

China’s bonded bunker fuel imports tumbled further in May, hitting a 16-month low. The country imported 275,900 mt of bonded bunker fuel in the month, plunging by 50.30%the previous month and 54.81% from a year earlier, calculations show, based on data from the General Administration of Customs of PRC (GACC).

The imports were the lowest since January 2025. Bonded bunker suppliers did not import any LSFO in the month as domestic supply remained sufficient. Meanwhile, they reduced purchases of high-sulfur fuel oil (HSFO) when import arbitrage narrowed. Regarding the imports by source, Russia still ranked first by shipping 135,258 mt to China, accounting for 49.02% of the latter’s total imports. Malaysia remained in second place with 120,631 mt, accounting for 43.72%, while South Korea ranked third with 20,025 mt, occupying 7.26%.

China’s bonded bunker fuel imports totaled about 2.87 million mt in January-May 2026, a boost of 7.80%from the same period of time in 2025, calculations also show.

Screenshot 2026 07 10 at 1.29.19 PM

Domestic-trade bunker fuel supply declines further in June

Chinese blenders supplied 290,000 mt of domestic-trade heavy bunker fuel in June, with the daily supply at 9,667 mt, a cut of 9.19% month on month, JLC’s data shows.

Blenders reduced their bunker fuel supply as the flow of low-sulfur residual oil into the bunker fuel field decreased. Meanwhile, cargo loading and unloading at northern ports slowed down amid stricter tax inspections and some other factors, which also depressed blenders’ production enthusiasm.

Domestic-trade MGO supply settled at 180,000 mt in June, with the daily supply at 6,000 mt, down by 2.11%from a month earlier, the data shows. Refineries lowered their MGO output when terminal demand weakened.

Screenshot 2026 07 10 at 1.29.31 PM

Bunker Prices, Profits

Screenshot 2026 07 10 at 1.29.39 PM

Screenshot 2026 07 10 at 1.29.59 PM Screenshot 2026 07 10 at 1.30.23 PM

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]

Photo credit: JLC Network Technology
Published: 10 July, 2026

Digital platform

Norwegian Cruise Line to enhance bunker procurement process with ZeroNorth

By leveraging ZeroNorth’s Bunker Procurement Solution, NCLH will create greater efficiencies across the bunker procurement process while enhancing transparency, supplier collaboration, and decision-making.

Published

2 days ago

July 10, 2026

Admin

Norwegian Cruise Line to enhance bunker procurement process with ZeroNorth

Maritime technology solutions provider ZeroNorth on Thursday (9 July) said it is partnering with Norwegian Cruise Line Holdings to enhance bunker procurement processes through digital innovation.

“By leveraging ZeroNorth’s Bunker Procurement Solution, NCLH will create greater efficiencies across the bunker procurement process while enhancing transparency, supplier collaboration, and decision-making,” the company said in a social media post.

ZeroNorth added that fuel procurement is one of the most complex functions in operating a global cruise fleet.

“Balancing market dynamics, supplier options, operational schedules, and cost considerations require timely insights and the right technology,” it said.

Lory Urdaneta, Senior Director Energy Strategy at Norwegian Cruise Line Holdings, said: “At Norwegian Cruise Line Holdings, we are committed to embracing innovative technologies that strengthen our operations and deliver long-term value.

“Our partnership with ZeroNorth is an important step in enhancing our bunker procurement process through greater transparency, data-driven decision-making, and operational efficiencies. We look forward to working together to drive innovation and support the continued evolution of our procurement capabilities.”

Photo credit: ZeroNorth
Published: 10 July, 2026

Methanol

VTTI Dalian completes first large-scale green methanol loading for bunkering

VTTI said its Dalian terminal has successfully completed its first commercial vessel loading of large-scale green methanol, which will be supplied as marine fuel upon arrival in Shanghai.

Published

2 days ago

July 10, 2026

Admin

VTTI Dalian completes first large-scale green methanol loading for bunkering

Rotterdam-based storage terminal owner VTTI, co-owned by Vitol, IFM, and Adnoc, on Thursday (9 July) said its Dalian terminal has successfully completed its first commercial vessel loading of large-scale green methanol, marking an important milestone under its long-term green methanol storage and handling contract.

This milestone represents an important step in establishing Northeast China as a key logistics hub for sustainable marine fuels.

The cargo will be supplied as marine fuel upon arrival in Shanghai, supporting the development of low-carbon shipping.

Janice Kuan, Senior Vice President Commercial at VTTI, said: “This milestone reflects our continued commitment to enabling the energy transition. By supporting long-term green methanol storage and handling at VTTI Dalian, we are helping our partners build reliable supply chains for cleaner marine fuels while advancing VTTI’s strategy to lead in sustainable infrastructure.”

Strategically located at Dalian Port – the only main port for Northeast China – VTTI Dalian is an independent public terminal serving chemical producers and traders inland.

With four jetties for vessels up to 50,000 DWT, dedicated chemical storage, and multimodal access, the terminal is a critical logistics hub for sustainable fuel distribution.

Photo credit: VTTI
Published: 10 July, 2026