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JLC China Bunker Market Monthly Report (August 2021)

Bonded bunker sales for state-owned enterprises and Zhoushan enterprises were 1.71 mln mt and 157,900 mt, accounting for 91.56% and 8.44%.

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Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for August 2021 with Manifold Times through an exclusive arrangement:

Bunker Fuel Demand

Bonded bunker fuel sales rise in August

China’s bonded bunker fuel sales increased to 1.68 mln mt in August, JLC data showed. The bonded bunker demand at each port was different despite the stable overall demand. The bunkering operation at Zhoushan Meishan port and Shenzhen Yantian port was suspended under the influence of Covid-19 resurgence for a certain period of time in August. 

The congestion at Zhoushan port forced some shipowners to transfer to Shanghai and Fujian, while the sales at Zhoushan remained high due to the support of the integrated bunker supply system of Zhejiang and Shanghai. Chimbusco and Sinopec sold about 690,000 mt and 710,000 mt of bonded bunker fuel, respectively. Bonded bunker fuel sales were about 85,000 mt for SinoBunker and 30,000 mt for China ChangJiang Bunker (Sinopec). New enterprises in the China (Zhejiang) Pilot Free Trade Zone sold 162,500 mt.

China’s bonded bunker fuel exports in July 2021 were 1.87 million mt, up by 6.29% month on month and 39.51% year on year, according to GAC data. China exported 1.76 million mt of heavy bunker fuel and 103,700 mt of light bunker fuel in July.

Bonded bunker sales for state-owned enterprises and Zhoushan enterprises were 1.71 mln mt and 157,900 mt, accounting for 91.56% and 8.44%. Specifically, bonded bunker fuel sales were 807,500 mt for Sinopec, 778,400 mt for Chimbusco, 97,300 mt for SinoBunker, 30,400 mt for China ChangJiang Bunker (Sinopec)

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Domestic bunker fuel demand keeps stable in August

Domestic bunker fuel demand was flat with the previous month. The trading atmosphere of heavy bunker fuel was tepid amid the slack demand. Downstream buyers tended to wait and see due to high prices. End users' consumption of domestic-trade heavy bunker fuel was about 340,000 mt in the month, down by 10,000 mt from July. The shipping demand recovered after the typhoon and demand from power plants went up in South China. The demand for light bunker fuel was 130,000 mt in August, up by 10,000 mt from the previous month.

Bunker Fuel Supply

Bonded bunker fuel imports slip in July

China’s bonded bunker fuel imports were 520,400 mt in July, down by 14.79% month on month and 7.15% year on year, GAC data showed.

China’s bonded bunker fuel imports slipped continuously in July. For one thing, domestic LSFO output rose significantly, given the better profits. For another, the bunkering demand in East China decreased under the influence of the centenary celebrations of the CPC and severe weather.

Specifically, the largest import source for China was still Malaysia with 349,100 mt of bunker fuel. Imports from Singapore and South Korea were 124,900 mt and 46,400 mt respectively. 

BONded

Domestic blended bunker fuel supply inches up in August
Domestic blended bunker fuel supply inches up in August Chinese blending producers supplied a total of around 370,000 mt of heavy bunker fuel in August, up by 10,000 mt or 2.78% from July, JLC data showed. Low-sulfur residue oil producers in North China cut down their supply amid the feedstock shortage. Meanwhile, shale oil supply increased sharply. The blending demand rebounded in North China, which drove up the overall supply. Gasoline and diesel prices climbed as the demand from the coking sector rallied. Domestic light oil supply was about 150,000 mt in August, up by 10,000 mt from the previous month.

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Bunker Prices, Profits

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Tobey Li

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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.

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 Market Monthly Report (July 2021)
Related: JLC China Bunker Market Monthly Report (June 2021)
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Related: JLC China Bunker Market Monthly Report (December, 2020)
Related: JLC China Bunker Market Monthly Report (November, 2020)
Related: JLC China Bunker Market Monthly Report (October, 2020)
Related: JLC China Bunker Market Monthly Report (September, 2020)
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Related: JLC China Bunker Oil Market Monthly Report (May, 2020)

 

Photo credit: JLC Network Technology Co., Ltd
Published: 13 September, 2021

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Newbuilding

Singapore: EPS orders ammonia, LNG dual-fuel vessels from China

EPS signed one contract for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International.

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Singapore-based Eastern Pacific Shipping (EPS) on Wednesday (28 February) said it signed two new contract orders in a signing ceremony in Shanghai, one for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International. 

The contracts signed cover four 210,000 dwt ammonia dual-fuel bulk carriers and two 111,000 dwt LNG dual-fuel LR2 oil tankers, expanding our fleet of green vessels on water. 

“These are pivotal for EPS, testament to our continued commitment towards the decarbonisation of shipping,” EPS said in a social media post.

Manifold Times recently reported EPS signing a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard the Pacific Sentinel

The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate exceptional propulsive efficiency, will be fitted later this year, helping the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%, depending on vessel routing.

Related: Singapore: EPS orders its first wind-assisted propulsion system for tanker

 

Photo credit: Eastern Pacific Shipping
Published: 1 March 2024

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LNG Bunkering

Malaysia: Port of Tanjung Pelepas completes first LNG bunkering operation

Landmark event involved the CMA CGM Monaco, a 14,024 TEUs containership operated by French shipping giant CMA CGM.

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Port of Tanjung Pelepas Sdn Bhd (PTP), a joint venture between MMC Group and APM Terminals, on Wednesday (28 February) announced a significant milestone with the successful completion of its first Liquefied Natural Gas (LNG) bunkering operation. 

The landmark event involved the CMA CGM Monaco, a 14,024 TEUs (Twenty-foot Equivalent Units) capacity containership operated by French shipping giant, CMA CGM.

Tan Sri Che Khalib Mohamad Noh, Chairman of PTP in a statement remarked this latest milestone demonstrates PTP’s commitment to continuously enhance its competitive advantages in an increasingly competitive global market.

“The successful completion of our first LNG bunkering operation also underscores our unwavering commitment to sustainability and environmental leadership. We are proud to partner with Petronas Trading Corporation Sendirian Berhad (PETCO) and CMA CGM on this initiative and showcase PTP’s capabilities as a leading facilitator of clean and efficient maritime operations.”

“This milestone paves the way for further growth in LNG bunkering at PTP, contributing significantly to the decarbonisation of the maritime industry.”

Commenting on this achievement, Mark Hardiman, Chief Executive Officer of PTP stated this latest milestone further highlights PTP’s position as the largest transshipment hub terminal in Malaysia.

“In preparation for the LNG bunkering operation, PTP worked closely since March 2022 with PETCO and CMA CGM, as well as with various other related government agencies to organise table-top exercises (TTX) and workshops, before carrying out the deployment exercise.”

“The success of the bunkering operation is a result of the seamless collaboration and preparations involving rigorous safety procedures through in-depth operational and risk assessments, modelling, and validation. We thank PETCO, CMA CGM all other involved parties for their joint efforts in operationalising the bunkering capability and we welcome partners to work with us to accelerate maritime decarbonisation,” said Hardiman.

Port of Tanjung Pelepas (PTP) is Malaysia’s largest transshipment hub with the capacity to handle 13 million TEUs annually. The port delivers reliable, efficient, and advanced services to major shipping lines and box operators, providing shippers in Malaysia and abroad with extensive connectivity to the global market. PTP is currently ranked 15th among the world top container ports.

 

Photo credit: Port of Tanjung Pelepas
Published: 1 March 2024

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Alternative Fuels

Wallenius Wilhelmsen to order four additional methanol DF PCTCs

Newbuilds will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

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Wallenius Wilhelmsen PCTC order

Roll-on/roll-off (Ro-Ro) shipping company Wallenius Wilhelmsen on Tuesday (27 February) declared options to build four additional next-generation Shaper Class pure car and truck carrier (PCTC) vessels.

The 9,300 CEU methanol dual fuel vessels can utilise alternative fuel sources, such as methanol, upon delivery. They will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

“Together with our customers we are committed to further shaping our industry and accelerating towards net zero. These new vessels are a vital part of that journey,” says Xavier Leroi, EVP & COO Shipping Services.

This latest commitment brings the total number of Shaper Class vessels currently on order with Jinling Shipyard (Jiangsu) to eight. Wallenius Wilhelmsen also retains further options.

The first of the Shaper Class vessels already ordered are expected to be delivered in the second half of 2026. The four additional vessels under the declared options will be delivered between May and November 2027.

 

Photo credit: Wallenius Wilhelmsen
Published: 1 March 2024

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