Connect with us

Bunker Fuel

JLC China Bunker Fuel Market Monthly Report (July 2024)

Country tallied 1.74 million mt of bonded bunker fuel sales in July with daily sales at 56,248 mt, falling by 5.08% month on month after bunkering operation was affected by Typhoon Gaemi, JLC’s data shows.

Admin

Published

on

JLC China Bunker Fuel Market Monthly Report (July 2024)

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

China’s bonded bunker fuel sales retreat in July

China’s bonded bunker fuel sales retreated in July, as the bunkering operation of southern ports was struck by the landfall of “Typhoon Gaemi”.

The country tallied 1.74 million mt of bonded bunker fuel sales in the month, with the daily sales at 56,248 mt, falling by 5.08% month on month, JLC’s data shows.

Bonded bunker fuel sales by Chimbusco, Sinopec (Zhoushan), SinoBunker and China Changjiang Bunker (Sinopec) settled at 505,000 mt, 600,000 mt, 65,000 mt and 40,000 mt, while those by suppliers with regional bunkering licenses stood at 533,700 mt, the data shows.

China’s bonded bunker fuel exports fall in H1, but sales grow

China’s bonded bunker fuel exports fell in the first half of 2024, because of delayed customs clearance of some cargoes, but its actual bunker fuel sales grew when domestic supply increased.

The country exported about 9.59 million mt of bonded bunker fuel in the first six months, with the daily exports at 52,713 mt, down by 8.37% from the same months in 2023, JLC estimated, with reference to data from the General Administration of Customs of PRC (GACC). The daily exports dropped more than the total exports, due to one more day in H1 2024 than in H1 2023.

Heavy bunker fuel exports totaled about 9.05 million mt in H1, accounting for 94.29% of China’s total exports, while light bunker fuel exports settled at 547,700 mt, accounting for 5.71%.

Though global economic recovery was slower than expected, China’s foreign trade performed relatively well, and its sales of bonded bunker fuel grew steadily amid larger LSFO production. Chinese refiners sold a total of 10.16 million mt of bonded bunker fuel in January-June, with the daily sales at 55,834 mt, up by 8.46% year on year, 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 June alone, China’s bonded bunker fuel exports settled at 1.68 million mt, plunging by 17.74% year on year, with the daily exports at 55,970 mt, inching down by 0.53% from May. In breakdown, heavy bunker fuel exports settled at 1.59 million mt in the month, accounting for 94.50%, while light bunker fuel exports settled at 92,300 mt, accounting for 5.50%.

Screenshot 2024 08 12 at 3.19.24 PM

Screenshot 2024 08 12 at 3.19.31 PM

Domestic-trade heavy bunker fuel demand contracts in July

Domestic-trade heavy bunker fuel demand contracted further in July, as shipowners just made small deals based on their rigid demand when the surplus of ships lingered. Domestic-trade heavy bunker fuel demand settled at 370,000 mt in the month, a decrease of 10,000 mt or 2.63% from the previous month.

On the flip side, domestic-trade light bunker fuel demand amounted to 150,000 mt in July, climbing by 10,000 mt or 7.14% month on month. Trade in the light bunker fuel market turned relatively active after the end of typhoon weather.

Bunker Fuel Supply

China’s bonded bunker fuel imports rally in June

China’s bonded bunker fuel imports rallied in June, as inventory in East China declined and freight rates dropped, with the imports of HSFO and MGO climbing, while LSFO imports changing little.

The country imported 361,500 mt of bonded bunker fuel in the month, a boost of 16.69% month on month, JLC estimated, with reference to data from the GACC.

Bonded bunker distributors in East China boosted their HSFO imports, as their inventory pressure eased to some degree, in addition to lower freight rates.

MGO imports also rose in June, but the rise was relatively modest.

China’s daily LSFO output grew slightly in June, due to one less day in the month than in May. In this case, distributors maintained largely stable LSFO imports.

On a year-on-year comparison, however, China’s bonded bunker fuel imports plunged by 20.27% in June, which could mainly be ascribed to a relatively high base a year earlier.

Regarding the imports by supplier, Malaysia remained in the top position by exporting 99,600 mt of bonded bunker fuel to China, which accounted for 27.56% of the latter’s total imports. Meanwhile, Iraq overtook Singapore as the second largest supplier with 84,500 mt, accounting for 23.36%. Singapore slipped to the third place with 75,900 mt, making up 21.01%, while South Korea remained in the fourth place with 59,500 mt, occupying 16.44%. Besides, bonded bunker fuel imports from Japan settled at 42,000 mt, accounting for 11.63%.

China recorded a total of 1.98 million mt of bonded bunker fuel imports in the first half of this year, an uptick of 6.72% from the corresponding period in 2023, decelerating from a jump of 15.46% in January-May.

Screenshot 2024 08 12 at 3.19.49 PM

Domestic-trade bunker fuel supply tightens in July

Domestic-trade bunker fuel supply continued to tighten in July, as the availability of low-sulfur residual oil decreased on refinery maintenance and residual oil supply was insufficient when some blenders in Northeast China suspended production.

Chinese blenders supplied about 380,000 mt of heavy bunker fuel in the month, down by 20,000 mt or 5.00% from the previous month, JLC’s data shows. Meanwhile, domestic-trade MGO supply was estimated at 150,000 mt, a cut of 10,000 mt or 6.25% month on month. Refineries showed lower interest in MGO production as diesel prices weakened.

Screenshot 2024 08 12 at 3.20.01 PM

Bunker Prices,Profits

Screenshot 2024 08 12 at 3.20.23 PM

Screenshot 2024 08 12 at 3.20.33 PM

Screenshot 2024 08 12 at 3.20.39 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 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 (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 August, 2024

Continue Reading

Methanol

SMW 2025: MPA seeks methanol bunker supplier licence applications in Singapore

MPA is launching an open call for applications for methanol bunker supplier licences in the Port of Singapore to implement an end-to-end methanol supply model, says Senior Minister Amy Khor.

Admin

Published

on

By

MPA issues EOI seeking for methanol bunker fuel suppliers in Singapore

The Maritime and Port Authority of Singapore (MPA) is launching an open call for applications for methanol bunker supplier licences in the Port of Singapore, said Senior Minister of State for Transport Amy Khor on Tuesday (25 March). 

The initiative is part of Singapore’s effort to foster a competitive and innovative ecosystem to accelerate the adoption of low- or zero-carbon fuels, while collaborating with industry stakeholders to ensure their safe and effective deployment.

“To meet growing interest in methanol among shipowners, MPA is launching an open call for applications for methanol bunker supplier licences in the Port of Singapore to implement an end-to-end methanol supply model,” Khor said in her speech at the Accelerating Digitalisation and Decarbonisation Conference, as part of the Singapore Maritime Week (SMW 2025).

“This will build on the recently published Technical Reference for Methanol Bunkering, and the Standards for the Port Limit Methanol Bunker Tankers, to provide a consistent approach to ensure the safe and efficient use of methanol.”

During SMW 2024, MPA announced its regulatory framework for methanol bunkering licence was close to be finalised and would call for applications for a licence to supply methanol as a marine fuel in Singapore. 

In 2023, MPA issued an Expression of Interest (EOI) inviting parties interested in supplying methanol as a bunker fuel in the Port of Singapore. The EOI aims to gather proposals for the implementation of end-to-end methanol bunkering solutions in Singapore from 2025.

Khor also said MPA has also been collaborating closely with industry partners and the A*STAR Institute of High-Performance Computing to conduct virtual simulations of ammonia bunkering operations. 

“These simulations are critical for evaluating and mitigating the environmental and safety risks associated with ammonia bunkering operations. This methodology is also extended to other fuels such as LNG and methanol,” she said. 

In parallel, Singaporean companies such as Seatrium and PSA are exploring initiatives aimed at harnessing and utilising low-carbon energy fuels for the maritime sector.

Related: Singapore releases new standard on methanol bunkering, gears up for multi-fuel future
Related: SMW 2024: MPA receives 50 submissions for EOI to supply methanol bunker fuel in Singapore
Related: MPA issues EOI seeking for methanol bunker fuel suppliers in Singapore

 

Photo credit: Maritime and Port Authority of Singapore
Published: 25 March, 2025

Continue Reading

Alternative Fuels

SMW 2025: Singapore publishes new technical reference for charging electric harbour craft

New Technical Reference establishes the specifications and safety requirements for electric harbour craft charging and battery swap systems to support Maritime Singapore’s decarbonisation goals.

Admin

Published

on

By

RESIZED MPA stock photo, Singapore flag

The Maritime and Port Authority of Singapore (MPA) and Enterprise Singapore (EnterpriseSG), through the Singapore Standards Council (SSC), on Tuesday (25 March) have published Technical Reference (TR) 1361 to guide the development of charging infrastructure and battery swap systems for electric harbour craft (e-HC). 

This initiative supports Singapore’s efforts to decarbonise the domestic maritime sector.

TR 136 establishes the safety requirements for the e-HC charging infrastructure and battery swap systems. It includes measures to protect personnel and property from electrical and mechanical hazards during the installation and operation of the charging systems. The TR also establishes the technical requirements to promote interoperability.

TR 136 incorporates widely adopted industry standards on electric vehicle charging systems, such as the Combined Charging System. It is also aligned with local electricity supply conditions and codes such as the TR 25 Electric Vehicles Charging System, as well as international standards including the IEC 61851 on electric vehicle charging system and IEC 62840 on electric vehicle battery swap system. This ensures that service providers can readily adopt the standard.

Adopting TR 136 will strengthen users’ confidence in e-HC charging and battery swap system providers, while giving ship owners, port operators, and charger operators greater assurance in the safe operation of e-HCs. The adoption of the TR is expected to have positive spillover effects with new business opportunities in areas such as charging systems and battery technologies, and upskilling prospects for the maritime workforce.

TR 136 was developed by the Working Group (WG) on Electric Harbour Crafts Charging System, which was appointed by the Electrical and Electronic Standards Committee (EESC) under the purview of the SSC. This WG comprises government and industry stakeholders such as MPA, charging equipment and battery suppliers, e-HC manufacturers and operators, testing, inspection and certification organisations, academic experts, and institutes of higher learning. Please refer to Annex A for the list of stakeholders in the WG.

Mr Teo Eng Dih, Chief Executive, MPA, said: “TR 136 is a critical step towards developing a safe, robust, and interoperable charging infrastructure for electric harbour craft in Singapore. By setting clear safety and operational guidelines, the new standard will give industry players greater confidence in electrification and pave the way for wider e-HC adoption.”

Ms Choy Sauw Kook, Director-General (Quality & Excellence), EnterpriseSG, said: “Standards have always played an important role in enabling pathfinders to drive industry development. By providing local operators with clear guidelines on how to adopt electric charging infrastructure in a safe and reliable manner, the TR 136 will accelerate the electrification of harbour craft and, in turn, the decarbonisation of the maritime sector in Singapore. Enterprise Singapore will continue to work closely with MPA and various industry partners, to develop standards that advance the interests of the maritime industry."

Er. Lim Say Leong, Co-Convenor of the Working Group on Electric Harbour Crafts Charging System, said: “During the development of TR 136, the working group consulted widely with marine industry players as there were no international standards that could be adopted. These efforts were necessary and important to ensure that TR 136 is robust and implementable by key stakeholders in the electric harbour craft ecosystem.”

Mr Ng Bingrong, Co-Convenor of the Working Group on Electric Harbour Crafts Charging System, said: “We thank all partners who have contributed to the TR 136, and will continue to work with all relevant stakeholders to ensure the TR 136 evolves with technology and industry needs. The working group welcomes feedback from users to further improve TR 136.”

MPA and EnterpriseSG will organise a closed-door seminar on 28 March 2025 at the sidelines of Singapore Maritime Week 2025. Key representatives from MPA, the WG, and industry will present their insights and expertise through technical sharing and a panel discussion at the seminar.

As part of the broader effort to encourage adoption of e-HCs, MPA organised a socialisation event on 10 March 2025 to facilitate business matching between the wider group of potential e-HC operators, developers, charging infrastructure providers, financiers, and insurers. The event provided a platform for stakeholders to better understand the technical aspects, cost of ownership, and business model considerations associated with e-HCs.

Financing for e-HCs is available under the Enterprise Financing Scheme-Green (EFSGreen), which enables companies to better access green financing that allows them to develop their capabilities and establish a strong sustainability record. As part of this, EnterpriseSG provides risk-sharing of up to 70% to catalyse lending by seven participating financial institutions. Additionally, local banks DBS, OCBC, and UOB, through engagements with MPA, have expressed strong interest to offer financing solutions for e-HC operators and owners.

Related: SMW 2025: Singapore to launch new standard for electric harbour craft this week

 

Photo credit: Maritime and Port Authority of Singapore
Published: 25 March, 2025

Continue Reading

Alternative Fuels

SMW 2025: Rotterdam, Singapore plan to conduct more bunkering trials of alternative fuels

MPA and Port of Rotterdam inked a deal to strengthen their efforts on Rotterdam-Singapore Green and Digital Shipping Corridor, which includes boosting uptake of low- and zero-emission marine fuels.

Admin

Published

on

By

Singapore-Rotterdam Green and Digital Shipping Corridor partners to implement first-mover pilot projects

The Maritime and Port Authority of Singapore (MPA) and the Port of Rotterdam on Tuesday (25 March) said they have signed a Cooperation Agreement to further strengthen their efforts on the Rotterdam-Singapore Green and Digital Shipping Corridor

This follows the success of the corridor as a driving force of maritime decarbonisation and digitalisation since its inception in 2022.

The two ports have since brought together 28 partners across the entire container shipping value chain to drive the deployment of sustainable fuels on the 15,000-kilometer shipping route and implement digital solutions for improved efficiency. 

The collective ambition is to reduce greenhouse gas emissions of large container vessels on the corridor by 20-30% by 2030, while accelerating the adoption of global standards and solutions to facilitate efficient port calls, flow of goods, and enable paperless handling.

To support the decarbonisation of shipping, the collaboration focused on testing and accelerating the adoption of sustainable fuels, with the aim of making them available, accepted and affordable for large-scale use. Emphasis will be on bio- and e-variants of ammonia, methanol, and methane, with working groups established for each fuel type.

Since 2022, several first-mover pilot projects have been carried out, including the first successful bunkering of mass-balanced liquefied bio-methane at the Port of Rotterdam. A similar trial is planned in Singapore in 2025. 

Other achievements include the completion of a Life Cycle greenhouse gas Assessment (LCA) of green ammonia as a marine fuel, and strong support for the development and implementation of the Port Readiness Framework of the International Association of Ports and Harbors (IAPH), which helps ports assess their preparedness to supply sustainable marine fuels.

In the next phase, the partners plan to conduct further studies and trials for the bunkering of bio-methane, methanol and ammonia to support their future use along the shipping corridor. They also aim to develop and mobilise financial instruments to address the cost barriers associated with using low- and near-zero emission fuels.

On the digital front, the two ports have successfully trialled the exchange of port-toport data to exchange vessel arrival and departure timestamps. In support of digital initiatives  by the IMO, this effort aims to optimise vessel arrival planning and port operations between Singapore and Rotterdam. 

Both ports have also established ship-to-shore data exchange infrastructure to enable efficient and secure submission of port clearance information. This saves time and minimises data entry errors through automated data filling. The first phase to trial the use of global standards and digital solutions began in March 2025, with an enhanced solution scheduled for testing in the second half of 2025.

Both government and industry partners are at Singapore Maritime Week to advance the discussions and work on realising the goals of the Green and Digital Shipping Corridor.

Mr Teo Eng Dih, Chief Executive of MPA, said, “The continued progress through the Singapore-Rotterdam Green and Digital Shipping Corridor is testament to the role of public private collaboration to bring decarbonisation and digitalisation initiatives from ideas to implementation.”

“We look forward to collaborating with more partners to bring impact to one of the world’s busiest shipping routes and accelerate the decarbonisation and digitalisation of the shipping industry.”

Mr Boudewijn Siemons, CEO of the Port of Rotterdam, said, “By bringing together parties across the entire value chain, the Rotterdam-Singapore Green & Digital Shipping Corridor has helped to make first, valuable steps towards the decarbonisation of international shipping while also improving efficiency of trade and setting new industry standards.”

“At the same time, we still have a lot of work ahead of us and we are looking forward to continue our work on this together with the Maritime and Port Authority of Singapore.”

Related: SMW 2024: Singapore-Rotterdam Green and Digital Shipping Corridor partners to implement first-mover pilot projects

 

Photo credit: Maritime and Port Authority of Singapore
Published: 25 March, 2025

Continue Reading
Advertisement
  • Aderco Manifold Website Advert EN
  • Consort advertisement v2
  • EMF banner 400x330 slogan
  • v4Helmsman Gif Banner 01
  • RE 05 Lighthouse GIF
  • SBF2
  • Sea Trader & Sea Splendor
  • Zhoushan Bunker

OUR INDUSTRY PARTNERS

  • HL 2022 adv v1
  • Singfar advertisement final
  • Triton Bunkering advertisement v2
  • MFT 25 01 E Marine Logo Animation
  • SEAOIL 3+5 GIF


  • Auramarine 01
  • CNC Logo Rev Manifold Times
  • Cathay Marine Fuel Oil Trading logo
  • Mokara Final
  • Energe Logo
  • PSP Marine logo
  • Synergy Asia Bunkering logo MT
  • NW Logo advertisement
  • Victory Logo
  • Trillion Energy
  • Advert Shipping Manifold resized1
  • VPS 2021 advertisement
  • LabTechnic

Trending