Bunker Fuel

JLC China Bunker Fuel Market Monthly Report (May 2026)

China’s bonded bunker fuel sales slipped in May, but they were still high, as domestic supply remained sufficient and bonded LSFO prices were still competitive, says JLC.

Published

3 hours ago

June 11, 2026

Admin

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 slip in May, but still high

China’s bonded bunker fuel sales slipped in May, but they were still high, as domestic supply remained sufficient and bonded low-sulfur fuel oil (LSFO) prices were still competitive.

The country sold roughly 1.88 million mt of bonded bunker fuel in the month, with the daily sales at 60,626 mt, down by 3.31% month on month, JLC’s data shows.

Bonded LSFO prices in Zhoushan averaged $803.68/mt in the month, $11.47/mt lower than those in Singapore, JLC’s data shows.

Regarding the sales by supplier, the sales by Chimbusco, Sinopec (Zhoushan), SinoBunker, and China Changjiang Bunker (Sinopec) respectively settled at 440,000 mt, 550,000 mt, 90,000 mt, and 10,000 mt in the month, while those by suppliers with regional bunkering licenses settled at 789,400 mt.

China’s LSFO output decreases in May

China’s LSFO output decreased moderately in May due to unit maintenance. Chinese refiners produced about 1.19 million mt of LSFO in the month, with the daily output at 38,323 mt, a cut of 5.92% month on month, JLC’s data shows.

Specifically, Sinopec’s LSFO output dropped, as Qingdao Petrochemical, Shanghai Petrochemical, Shanghai Gaoqiao Petrochemical, and Hainan Refining and Chemical lowered their output. However, Shengli Oilfield, Maoming Petrochemical, and ZhongKe (Guangdong) Refinery & Petrochemical boosted their production, limiting the decline in Sinopec’s overall output.

CNOOC also recorded a drop in its LSFO output, as Taizhou Petrochemical suspended production amid turnarounds. Zhongjie Petrochemical was still under maintenance, while Zhoushan Petrochemical and Huizhou Petrochemical ramped up their production.

PetroChina’s LSFO output did not change much in May, with most refineries maintaining stale production. Meanwhile, Liaohe Petrochemical raised its output slightly, while Dalian WEPEC lowered its output.

ZPC and Sinochem did not produce any LSFO in the month, but the latter produced and exported 10,000 mt of MGO.

On a year-on-year comparison, however, China’s LSFO output surged by 24.40% in May.

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Domestic-trade bunker fuel demand mixed in May

Domestic-trade heavy bunker fuel demand settled at 320,000 mt in May, with the daily demand at 10,323 mt, down by 3.23% month on month, JLC’s data shows.

The recovery of shipping demand was slower than expected, and risk aversion sentiment in the domestic-trade market intensified. Trade in North China remained lukewarm, with shipowners prioritizing the consumption of their stockpiles.

On the contrary, domestic-trade light bunker fuel demand came in at 160,000 mt in the month, with the daily volume at 5,161 mt, growing by 10.60% from the prior month, the data shows.

Bunker Fuel Supply

China’s bonded bunker fuel imports plunge in April

China’s bonded bunker fuel imports plunged in April, as bunker suppliers suspended their import of LSFO when domestic production surged.

The country imported 555,100 mt of bonded bunker fuel in the month, a slump of 32.55% from a month earlier, calculations show, based on the GACC data.

Bonded bunker suppliers did not import any LSFO as they prioritized domestic resources to meet demand. China’s LSFO output settled at roughly 1.22 million mt in April, with the daily output at 40,733 mt, surging by 27.55% month on month and 17.16% year on year, JLC’s data shows.

However, the arrivals of imported high-sulfur fuel oil (HSFO) remained high, putting a cap on the decline in the overall imports.

On a year-on-year comparison, however, China’s bonded bunker fuel imports increased by 5.63% in April.

Regarding the imports by source, Russia became the largest supplier by exporting 317,900 mt to China, accounting for 57.26% of the latter’s total imports. Malaysia slipped to the second place with 141,300 mt, accounting for 25.46%. Singapore remained in the third place with 79,000 mt, accounting for 14.24%, followed by South Korea, with 16,900 mt, accounting for 3.04%.

China’s bonded bunker fuel imports totaled 2.59 million mt in the first four months of this year, soaring by 26.46% year on year, calculations also show.

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Domestic-trade heavy bunker fuel supply declines in May

Chinese blenders reduced their heavy bunker supply in May, as the availability of low-sulfur residual oil decreased and trade in North China was depressed by stricter tax inspection.

These blenders supplied 330,000 mt of domestic-trade heavy bunker fuel in the month, with the daily supply at 10,645 mt, down by 8.76% from a month earlier, JLC’s data shows.

Conversely, domestic-trade marine gas oil (MGO) supply settled at 190,000 mt in May, with the daily supply at 6,129 mt, increasing by 2.15% month on month, the data shows. Refineries continued to raise their MGO yields to meet growing demand.

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Bunker Prices, Profits

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Editor
Yvette Luo
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Sales (Beijing)
Tony Tang
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Sales (Singapore)
Ginny Teo
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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.

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: 11 June, 2026

Don't Miss

CPN wraps up first B100 bio bunker fuel delivery to oil tanker in Hong Kong

Alternative Fuels

CPN wraps up first B100 bio bunker fuel delivery to oil tanker in Hong Kong

CPN’s dedicated bunker tanker “Guo Si” delivered B100 marine biodiesel to oil tanker “TORM CORRIDO” on 8 June.

Published

4 hours ago

June 11, 2026

Admin

CPN wraps up first B100 marine biodiesel delivery to oil tanker in Hong Kong

Hong Kong-based marine fuel supplier Chimbusco Pan Nation (CPN) on Wednesday (10 June) said it has successfully delivered B100 marine biodiesel to an oil tanker for the first time, bunkering the vessel TORM CORRIDO on 8 June.

The operation marked a significant expansion of CPN’s B100 capability, bringing oil tankers into the range of vessel types it can serve with fully compliant, certified biodiesel supply in Hong Kong.

The achievement reflects a broader surge in market demand. Since CPN launched its B100 marine biodiesel service in January 2026, operator confidence has grown rapidly, and total volumes delivered in the second quarter of 2026 have already exceeded first-quarter totals by more than 300%.

“Total B100 marine biodiesel volumes in Q2 2026 have already exceeded Q1 by more than 300%, driven by the trust of partners like TORM,” CPN said.

The operation was carried out by CPN’s dedicated bunker tanker Guo Si, fully upgraded in compliance with the IMO IBC Code and Hong Kong Cap. 413E.

“As Hong Kong’s only Type II-certified bunker tanker for B100 operations, Guo Si brings the specialist capability to handle pure biofuels safely and compliantly across vessel types,” the company added.

Photo credit: Chimbusco Pan Nation
Published: 11 June, 2026

Methanol

Agastya inks MoU with Andhra Pradesh to develop green methanol hub at Mulapeta Port

Project will establish a 1 MMTPA green methanol export-oriented unit on the East Coast of India, positioning Andhra Pradesh as a global hub for sustainable bunker fuels and green industrial products.

Published

4 hours ago

June 11, 2026

Admin

Agastya inks MoU with Andhra Pradesh to develop green methanol hub at Mulapeta Port

India’s clean energy conglomerate Agastya Group recently said it has signed a strategic Memorandum of Understanding (MoU) with the Government of Andhra Pradesh for the development of Agastya’s green fuels hub at Mulapeta Port, Srikakulam District, Andhra Pradesh.

The project will establish a 1 million tonnes per annum (MMTPA) green methanol export-oriented unit (EOU) on the East Coast of India, positioning Andhra Pradesh as a global hub for sustainable marine fuels and green industrial products.

With an estimated investment of over ₹54,000 Crore (USD 6.5 billion), the Agastya Green Fuels Hub will integrate large-scale green hydrogen production, green methanol manufacturing, carbon capture, renewable energy, and port infrastructure.

“Strategically located in the Indian Ocean Region, the facility will serve key global markets including Japan, South Korea, Singapore, Europe, and other emerging green shipping corridors, supporting the decarbonization of international maritime transport and industrial sectors,” the firm said.

The company added that the project represents a transformational step toward making India a net exporter of RFBNO RED III compliant green methanol to the world.

Manifold Times previously reported Agastya Green Fuels signing a long-term green methanol offtake agreement with Sri Lankan bunker supplier SAR Maritime Agencies, a SAR Group company, for the supply of 250,000 metric tonnes (mt) per annum of EU RFNBO RED III Compliant green methanol.

Photo credit: Agastya Group
Published: 11 June, 2026

Alternative Fuels

Gasum locks in LNG capacity at Klaipeda terminal for next decade of supply

Gasum uses the Klaipeda terminal primarily as a reloading point for its own carrier and bunker vessels, but also to support the company’s natural gas operations in Finland and the Baltic countries.

Published

4 hours ago

June 11, 2026

Admin

Gasum secures long-term LNG capacity at Klaipeda terminal from 2033 to 2040

Nordic energy company Gasum on Wednesday (10 June) said it has secured LNG terminal capacity at the Klaipeda LNG terminal in Lithuania for the period of 2033 to 2040.

The long-term capacity reservation supports Gasum’s ability to supply the Northwestern European market with liquefied natural gas (LNG) and liquefied biomethane (bio-LNG) over the coming decade.

The Klaipeda terminal has been a part of Gasum’s supply chain for some time already. Gasum uses the Klaipeda terminal primarily as a reloading point for its own carrier and bunker vessels, but also to support the company’s natural gas operations in Finland and the Baltic countries.

Klaipeda is well located regarding the company’s own LNG terminal network in Finland, Sweden, and Norway. Gasum will also utilise the capacity to serve its maritime customers directly in and around the Danish straits.

“Securing capacity at Klaipeda supports Gasum’s strategic long-term supply capability and gives us flexibility in optimizing deliveries to our terminal network and maritime customers. It also underpins our commitment to being a dependable partner in the energy transition”, said Anders Malm, Senior Vice President, Supply & Trading, Gasum.

The capacity at Klaipeda can additionally be used for virtual liquefaction of pipeline fed biomethane into bio-LNG, through mass balancing and biomethane certificates.

“Gasum believes this to be an important capability going forward, as a growing number of the company’s customers are seeking to reduce the lifecycle emissions of fuel further than what LNG alone can offer,” it added.

Photo credit: KN Energies
Published: 11 June, 2026