Business

JLC China Bunker Fuel Market Monthly Report (May 2023)

Country sold about 1.54 million mt of bonded bunker fuel in May, with the daily sales inching down by 1.19% to 49,526 mt, JLC’s data shows, says JLC Network Technology report.

Published

3 years ago

June 12, 2023

Admin

Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for May 2023 with Manifold Times through an exclusive arrangement:

Bunker Fuel Demand

China sees a drop in its daily bonded bunker fuel sales in May

China saw a drop in its daily bonded bunker fuel sales in May when demand was still average and domestic supply remained relatively tight.

The country sold about 1.54 million mt of bonded bunker fuel in May, with the daily sales inching down by 1.19% to 49,526 mt, JLC’s data shows. Specifically, the daily sales by Chimbusco, Sinopec Zhoushan, ChinaChangJiang Bunker (Sinopec) and SinoBunker settled at about 17,097 mt, 18,387 mt, 2,194 mt and 1,129 mt. At the same time, suppliers with regional bunkering licenses sold roughly 10,719 mt per day, the data shows.

Despite a modest increase in China’s daily low-sulfur fuel oil (LSFO) output, domestic bonded bunker fuel supply remained relatively tight, depressing the daily sales. But some importers increased their purchases of bonded bunker fuel resources, alleviating the previous disruption of blendstock supply.

China slashes its bonded bunker fuel exports in April

China slashed its bonded bunker fuel exports in April, as domestic supply tightened.

The country exported roughly 1.43 million mt of bonded bunker fuel in the month, a nosedive of 30.76% from the previous month, reversing a rise of 28.23% in March, JLC estimated, with reference to data from the GeneralAdministration of Customs of PRC (GACC).

Specifically, heavy bunker fuel exports were about 1.36 million mt, accounting for 95.23% of the total, whilelight bunker fuel exports amounted to 68,300 mt, taking up 4.77%.

Suppliers with national bunkering licenses exported about 1.09 million mt of bonded bunker fuel in the month, accounting for 75.91% of China’s total, with Sinopec Fuel Oil and Chimbusco taking 70.51%. At the sametime, enterprises with regional licenses exported about 344,800 mt, accounting for 24.09%. Noticeably, PetroChina Fuel Oil (Zhoushan, Shanghai and Guangzhou) exported a combination of 171,100 mt, occupying 11.95% of China’s exports and 49.62% of regional suppliers’ total.

China’s bonded bunker fuel exports plunged rapidly as domestic refiners cut their LSFO production amid badmargins, insufficient supply of blendstocks and more unit maintenance. The country produced roughly 1.07million mt of LSFO in April, with the daily output at 35,600 mt, tumbling by 17.33% from a month earlier, JLC’s data indicates.

On a year-on-year comparison, however, China’s bonded bunker fuel exports increased by 11.33%. The yearly growth was mainly ascribed to a low base in April 2022 when China tightened its virus-led restrictions amid a new outbreak of the epidemic.

China tallied a total of 6.43 million mt of bonded bunker fuel exports in the first four months of this year, downby 2.89% from the same months in 2022, slowing down from a year-on-year decline of 6.31%in the first quarter, the data shows.

The exports of heavy bunker fuel and marine gas oil were 6.11 million mt and 323,800 mt in the period, accounting for 94.96% and 5.04% respectively.

Regarding the exports by supplier, enterprises with national licenses exported 5.22 million mt in the period, accounting for 81.17% and those with regional ones exported 1.21 million mt, accounting for 18.83%.

Domestic-trade bunker fuel demand still shrinks in May

Domestic-trade bunker fuel demand shrank again in May when bearish sentiment strengthened.

Domestic-trade heavy bunker fuel demand slipped to 310,000 mt in the month, down by 20,000 mt or 6.06%month on month. In view of flagging international crude prices, participants expected a further decline in domestic bunker fuel prices, resulting in relatively thin trading.

Similarly, domestic-trade light bunker fuel demand decreased to 130,000 mt in the month, down by 10,000mt or 7.14% from a month earlier. Domestic diesel demand contracted as operating rates at outdoor projects fell amid higher temperatures.

Bunker Fuel Supply

China’s bonded bunker fuel imports rally to 4-month high in Apr

China’s bonded bunker fuel imports rebounded to a 4-month high in April, as domestic supply declined sharply and was insufficient to meet demand.

The country imported 413,900 mt of bonded bunker fuel in the month, surging by 135.71% month on monthand 35.17% year on year, JLC estimated, with reference to data from the General Administration of Customs of PRC (GACC).

Malaysia topped the suppliers by shipping 308,700 mt of bonded bunker fuel to China, which accounted for 75% of the latter’s total imports. South Korea slipped to the second place with 59,800 mt, accounting for 14%, followed by Singapore with 45,400 mt, occupying 11%.

Domestic supply of low-sulfur bunker resources tightened as refiners slashed their LSFO production. The country produced about 1.07 million mt of LSFO in April, a decline of 9.87% year on year, with the daily output at 35,600 mt, tumbling by 17.33% from March, JLC’s data shows.

To fill the demand gap, some traders boosted their bonded bunker fuel imports in April, though freight rates for imported cargoes stayed relatively steep. At the same time, the import arbitrage window opened after China’s bonded bunker fuel prices climbed amid tightening supply. Besides, importers also increased their imports of high-sulfur fuel oil, due to the decline in domestic LSFO supply.

China’s bonded bunker fuel imports totaled 1.05 million mt in the first four months of this year, a slump of 33.73% year on year, decelerating from a 50.30% plunge in the first quarter, JLC estimated, based on data from GACC. The plunge in imports came as a result of larger LSFO production. Chinese refiners producedabout 4.86 million mt of LSFO in the four months, growing by 2.51% from the same months in 2022, JLC’s data indicates.

Domestic heavy bunker fuel supply decreases in May

Domestic-trade heavy bunker fuel supply slightly lessened in May, as blenders lowered their output in view of relatively high feedstock costs. Chinese blenders supplied about 340,000 mt of heavy bunker fuel in the month, a decrease of 10,000 mt or 2.86% month on month, JLC’s data shows.

In the meantime, blenders supplied about 140,000 mt of marine gas oil (MGO) in the month, a drop of 10,000mt or 6.67% from April, the data indicates.

Bunker Prices, Profits

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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.

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 that period is available here.

Photo credit: JLC Network Technology
Published: 12 June, 2023

Mass Flowmeter

Hong Kong backs MFM adoption with voluntary scheme to boost bunkering competitiveness

Hong Kong’s Marine Department launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems on their bunker vessels.

Published

20 hours ago

June 4, 2026

Admin

Hong Kong’s Marine Department (MD) on Wednesday (3 June) launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems (MFM systems) on their bunker vessels.

MD said the scheme aims to enhance Hong Kong’s bunkering service quality and the competitiveness of Hong Kong ports, thereby further consolidating Hong Kong’s position as an international maritime centre and a major bunkering port.

Under the Scheme, bunker operators of traditional maritime fuel and biodiesel that install and use MFM systems on their bunker vessels, with the MFM systems inspected and certified by an accredited body in accordance with the International Organization for Standardization’s ISO 22192 Standard or equivalent requirements, can apply to the MD for inclusion in the scheme’s “List of Quality Bunker Vessels”, provided they meet the relevant technical and operational requirements.

Details of the bunker vessels successfully included in the List will be published on a dedicated page on the MD’s website for reference by shipping companies and relevant stakeholders.

Participation in the Scheme is voluntary. In addition to receiving recognition from the MD, participating bunker operators will benefit from enhanced corporate image and competitiveness through the adoption of MFM systems, thereby boosting customers’ confidence and helping to create new business opportunities.

A spokesman for the MD, said: “As an international maritime centre supported by our country, Hong Kong has a strategic location adjacent to major international fairways. Coupled with years of development in marine fuel bunkering, Hong Kong possesses rich experience and talent in the field. For many years, Hong Kong has consistently ranked as the seventh-largest bunkering port globally, the second-largest in our country, and the largest in the Greater Bay Area, providing reliable and competitive fuel bunkering services to ocean-going vessels from around the world.

“As the international shipping industry has an increasing demand for accuracy and transparency in bunkering services, service quality and measurement precision in bunkering operations have become important indicators of a bunkering port’s competitiveness. The Scheme will enhance bunkering accuracy and transparency, further enhancing the quality of Hong Kong’s bunkering services.

The spokesman added that comprehensive port services are one of Hong Kong’s key advantages as an international maritime centre.

“We will also mandate the use of MFM systems on all methanol bunker vessels this year to ensure that Hong Kong continues to provide high-quality bunkering services in the era of green maritime fuels.”

Note: The application form for the Scheme can be found on the MD’s website. Interested bunker operators can download the application form from the website or contact the MD’s Green Maritime Fuel Team via email ([email protected]) for details.

Photo credit: Manifold Times
Published: 4 June, 2026

Alternative Fuels

MPA and MSC ink MoU to support adoption of alternative bunker fuels

MPA and MSC will explore new routes and services to strengthen connectivity, support the adoption of alternative marine fuels such as bio-LNG, and advance technologies to improve vessel energy efficiency.

Published

20 hours ago

June 4, 2026

Admin

MPA and MSC ink MoU to support adoption of alternative bunker fuels

The Maritime and Port Authority of Singapore (MPA) on Wednesday (3 June) said it signed a Memorandum of Understanding (MoU) with MSC Mediterranean Shipping Company to strengthen collaboration in maritime decarbonisation, digitalisation, innovation, and manpower development.

The MoU was signed on 25 May 2026 by Mr Ang Wee Keong, Chief Executive of MPA, and Mr Soren Toft, Chief Executive Officer of MSC.

The MoU underscores the shared commitment of MPA and MSC to foster a sustainable, digital, and future-ready maritime sector, while enhancing MSC’s operational and business activities in Singapore. This year also marks the 30th anniversary of MSC establishing its Asia Regional Office and local office in Singapore.

Under the MoU, MPA and MSC will explore new routes and services to strengthen connectivity, support the adoption of alternative marine fuels such as bio-LNG, and advance technologies to improve vessel energy efficiency and operational performance.

MPA and MSC will also collaborate on maritime digitalisation initiatives to improve operational efficiency, including streamlining vessel arrivals and port operations.

On manpower development, MSC will support internship and scholarship opportunities through Singapore Maritime Foundation’s Maritime Outreach Network (MaritimeONE) platform, an industry-led tripartite partnership comprising industry, government and institutes of higher learning that aims to raise awareness of the maritime industry and attract quality talent into the maritime sector.

Mr Ang Wee Keong, Chief Executive of MPA, said: “This partnership reflects the strong collaboration between MPA and MSC in driving sustainability and digitalisation in the maritime sector. By working together on decarbonisation, operational efficiency and talent development, we aim to strengthen Maritime Singapore’s position as a trusted and future-ready global maritime hub.”

Mr Soren Toft, Chief Executive Officer of MSC, said: “Singapore is a strategically important hub for MSC and a key gateway to the broader Asia region. As we mark 30 years in Singapore, this MOU reinforces our long-term commitment to strengthening our presence here. MSC and Singapore are closely aligned on the priorities shaping the future of global shipping, and we look forward to deepening this partnership to drive the continued growth and resilience of the maritime industry.”

Photo credit: Maritime and Port Authority of Singapore
Published: 4 June, 2026

Emissions reporting

StormGeo and OceanScore link emissions data, compliance workflows

Cooperation combines StormGeo’s expertise in operational vessel and emissions data with OceanScore’s expertise in emissions compliance workflows across EU ETS, FuelEU Maritime and UK ETS requirements.

Published

20 hours ago

June 4, 2026

Admin

StormGeo and OceanScore link emissions data, compliance workflows

Weather intelligence and decision support solutions provider StormGeo and Hamburg-based technology platform OceanScore on Wednesday (3 June) said they have deepened their ongoing cooperation through the signing of a collaboration agreement during Posidonia 2026 in Athens on 2 June.

The cooperation combines StormGeo’s expertise in operational vessel and emissions data with OceanScore’s expertise in emissions compliance workflows across EU ETS, FuelEU Maritime and upcoming UK ETS requirements.

Together, the companies aim to help shipping companies seamlessly navigate increasing regulatory complexity more efficiently — from emissions reporting and data validation to compliance exposure management, pooling and financial settlement.

As emissions regulation becomes an increasingly important part of commercial shipping operations, the need for reliable operational data and streamlined compliance processes continues to grow. The cooperation between StormGeo and OceanScore is designed to support shipping companies with more connected, transparent and actionable processes across operational and commercial teams.

“From the outside, companies like StormGeo and OceanScore may sometimes be perceived as competitors because both operate around emissions and compliance workflows,” said Albrecht Grell, Managing Director at OceanScore.

“But in reality, the industry increasingly needs both perspectives working together: trusted operational emissions data on one side and commercial compliance execution on the other. Our cooperation reflects that shipping companies are no longer looking for isolated solutions — they need connected processes, automated across different systems and reliable decision-making throughout the full compliance chain.”

By connecting validated operational emissions data with commercial compliance management, the cooperation supports workflows across:

emissions reporting and validation
compliance management across EU ETS, FuelEU Maritime and upcoming UK ETS requirements
exposure visibility and cost transparency
pooling, settlement and financial processes

The cooperation also aims to improve commercial transparency and coordination across operational and commercial stakeholders.

“StormGeo plays a central role in helping shipping companies turn operational vessel and emissions data into trusted, decision-ready insights,” said Espen Martinsen, Chief Commercial Officer at StormGeo.

“As emissions regulations become more complex, this data is essential for transparent and efficient compliance management. By working with OceanScore, we can help customers connect StormGeo’s validated operational data with commercial compliance processes, creating a more integrated and practical approach to emissions management.”

The signing ceremony took place at the StormGeo booth during Posidonia 2026 in Athens and was attended by representatives from both companies.

Both companies expect the cooperation to continue evolving alongside upcoming regulatory developments, including FuelEU Maritime, EU ETS, the upcoming UK ETS and future emissions-related frameworks affecting global shipping.

Photo credit: StormGeo
Published: 4 June, 2026