Business

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%.

Published

5 years ago

September 13, 2021

Admin

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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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.

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

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

5 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

6 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

6 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026