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JLC China Bunker Fuel Market Monthly Report (May 2025)

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 due to a cut in domestic LSFO production, JLC’s data shows.

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JLC China Bunker Fuel Market Monthly Report (May 2025)

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.

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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.

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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.

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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.

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: [Updated 15 May] JLC China Bunker Market Monthly Report (April 2025)
Related: JLC China Bunker Market Monthly Report (February 2025)
Related: JLC China Bunker Fuel Market Monthly Report (January 2025)
Related: JLC China Bunker Fuel Market Monthly Report (December 2024)
Related: JLC China Bunker Fuel Market Monthly Report (November 2024)
Related: JLC China Bunker Fuel Market Monthly Report (October 2024)
Related: JLC China Bunker Fuel Market Monthly Report (September 2024)
Related: JLC China Bunker Fuel Market Monthly Report (August 2024)
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 June, 2025

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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.”

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Photo credit: DNV
Published: 4 September, 2026

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