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Bunker Fuel Availability

JLC China Bunker Market Monthly Report (January 2024)

Country recorded about 1.82 million mt of bonded bunker fuel sales in January, with the daily sales up by 17.54% month on month to 58,548 mt, JLC’s data shows.

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Zhoushan bunker sales Jan 2024

Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for January 2024 with Manifold Times through an exclusive arrangement:

Bunker Fuel Demand

China’s bonded bunker fuel sales surge in January

China’s bonded bunker fuel sales spiked in January, mainly because of healthy demand from the shipping sector, as well as increasing supply following the release of LSFO export quotas.

The country recorded about 1.82 million mt of bonded bunker fuel sales in January, with the daily sales up by 17.54% month on month to 58,548 mt, JLC’s data shows.

The sales by Chimbusco and Sinopec (Zhoushan) respectively rose to 580,000 mt and 670,000 mt in the month, while those by suppliers with regional bunkering licenses climbed to 495,000 mt, up from 424,100 mt in December. By contrast, the sales by SinoBunker slid to 40,000 mt in the month, down from 50,000 mt in the previous month. At the same time, China ChangJiang Bunker (Sinopec) sold about 30,000 mt of bonded bunker fuel, unchanged month on month.

China’s bonded bunker fuel exports rally in December 2023

China’s bonded bunker fuel exports rallied in December 2023, because of a relatively low base a month earlier.

The country recorded about 1.59 million mt of bonded bunker fuel exports in the month, jumping by 16.18% month on month, JLC estimated, with reference to data from the General Administration of Customs of PRC (GACC).

Heavy bunker fuel exports amounted to 1.51 million mt in the month, accounting for 94.85% of the total, while light bunker fuel exports settled at 81,900 mt, accounting for 5.15%.

Suppliers with national bunkering licenses exported roughly 1.17 million mt of bonded bunker fuel in the month, accounting for 73.32%, with Sinopec Fuel Oil and Chimbusco taking 67.63%. In the meantime, enterprises with regional licenses exported about 424,100 mt, occupying 26.68%.

The month-on-month increase in the exports was mainly ascribed to a relatively low base in November when Chinese refiners cut their bonded bunker fuel exports to a ten-month low.

However, tighter export quotas and low-sulfur fuel oil (LSFO) supply limited the growth in December’s bonded bunker fuel exports.

On a year-on-year comparison, China’s bonded bunker fuel exports surged by 32.32% in December.

China exported a total of 19.66 million mt of bonded bunker fuel in 2023, growing by 3.06% from the previous year, accelerating from a rise of 1.09% in January-November.

China bunker blending profit by region 2023

China major blending producers Dec 2023

Domestic-trade heavy bunker fuel demand largely stable in Jan

Domestic-trade heavy bunker fuel demand was basically stable in January, when most shipowners based purchase on rigid demand amid overpriced bunker fuel. Domestic-trade heavy bunker fuel demand was estimated at 430,000 mt in the month, largely stable from the previous month, JLC’s data shows.

However, domestic-trade marine gasoil (MGO) demand dwindled to 120,000 mt in the month, down by 10,000 mt or 7.69% month on month, the data also shows. Domestic-trade light bunker fuel demand weakened, as the inland shipping market sagged and downstream restocking shrank with the approach of the Spring Festival.

Bunker Fuel Supply

China’s bonded bunker fuel imports tumble in December

China's bonded bunker fuel imports stood at 315,200 mt in December, a slump of 41.29% month on month and 23.92% year on year, JLC estimated, with reference to data from the General Administration of Customs of PRC (GACC).

Though domestic LSFO output declined further, most distributors continued to cut their imports in the month amid high import costs.

South Korea topped all suppliers by shipping 95,400 mt to China in December, accounting for 30.26% of the latter's total imports, while Malaysia climbed to the second place with 88,600 mt, accounting for 28.11%. Iraq and Japan ranked third and fourth with 86,600 mt and 30,700 mt, making up 27.46% and 9.73% respectively.

Russia slipped to the fifth place with 13,000 mt, occupying 4.12%, while Singapore fell to the sixth place with only 1,000 mt, accounting for 0.32%.

China's bonded bunker fuel imports are expected to move lower in January 2024 because domestic LSFO production will return to normal after the release of the first batch of LSFO export quotas for this year.

Bonded bunker fuel imports by source Nov 2023

Domestic-trade heavy bunker fuel supply increases in January

Domestic-trade heavy bunker fuel supply increased slightly in January, as blenders showed higher production interest amid considerable blending margins. Meanwhile, downstream buyers increased purchases for pre-holiday replenishment, which also prompted blenders to accelerate production. Chinese blenders supplied about 440,000 mt of domestic-trade heavy bunker fuel in the month, up by 10,000 mt or 2.33% from a month earlier, JLC’s data indicates.

On the contrary, domestic-trade marine gasoil (MGO) supply came in at 140,000 mt in the month, a monthly decline of 10,000 mt or 6.67%, the data shows. Refineries’ production enthusiasm was relatively low when MGO prices dropped in tandem with falling diesel prices.

Arrival of imported FO cargoes Jan 2024

Bunker Prices, Profits

China main oil blending feedstock prices

China domestic trading 180 cSt bunker fuel price 2020 2023

China bunker blending profit by region 2023

Editor
Yvette Luo
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Sales (Beijing)
Tony Tang
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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 (December 2023)
RelatedJLC China Bunker Market Monthly Report (November 2023)
Related: JLC China Bunker Market Monthly Report (October 2023)
Related: JLC China Bunker Fuel Market Monthly Report (September 2023)
Related: JLC China Bunker Market Monthly Report (August 2023)
Related: JLC China Bunker Market Monthly Report (July 2023)
Related: JLC China Bunker Market Monthly Report (June 2023)
Related: JLC China Bunker Fuel Market Monthly Report (May 2023)
Related: JLC China Bunker Market Monthly Report (March 2023)
Related: JLC China Bunker Market Monthly Report (February 2023)
Related: JLC China Bunker Market Monthly Report (January 2023)

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: 9 February 2024

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Bunker Fuel

Baltic Exchange: Bunker Report (28 May 2024)

Bunker report panellists include Island Oil Limited, Cockett Marine Oil Pte, Monjasa A/S and KPI OceanConnect.

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Baltic Exchange: Bunker Report (28 May 2024)

The following bunker report has been provided by freight market information provider Baltic Exchange for post on Singapore bunkering publication Manifold Times:

Note:

All values are in US$/metric ton, all-in (invoice price), delivered on board
Delivery in 7-10 days
ISO 8217:2010
IFO 380 3.5% Sulphur
IFO 380 0.5% Sulphur
DMA 0.1% Sulphur

Rotterdam – Waalhaven – Maasvlakte range
Houston – Houston Harbor
Singapore – Anchorage, under SBA Scheme
Fujairah – Offshore Anchorage Area

Submitted weekly at Close of Business UK time, on Tuesday & Thursdays

Panellists:
Island Oil Limited, Cockett Marine Oil Pte, Monjasa A/S, KPI OceanConnect

 

Photo credit and source: Baltic Exchange
Published: 29 May, 2024

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Bunker Fuel

ENGINE: East of Suez Bunker Fuel Availability Outlook (28 May 2024)

HSFO supply is tight in Zhoushan; LSMGO and VLSFO availability is good across several Chinese ports; several South Korean ports could face weather disruptions.

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RESIZED ENGINE East of Suez

The following article regarding regional bunker fuel availability outlook for the East of Suez region has been provided by online marine fuels procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

  • HSFO supply is tight in Zhoushan
  • LSMGO and VLSFO availability is good across several Chinese ports
  • Several South Korean ports could face weather disruptions

Singapore and Malaysia

Lead times for VLSFO in Singapore have experienced notable fluctuations recently. Most suppliers recommend lead times of up to nine days for this grade, while some can accommodate stems in as little as two days in port. This has improved from the week prior, when traders recommended longer lead times ranging between 5-10 days.

HSFO supply remains limited in the port, with recommended lead times unchanged at 9-12 days. Lead times for LSMGO vary widely, ranging between 2-8 days.

Singapore’s residual fuel oil stocks have averaged 7% lower so far in May compared to April, according to Enterprise Singapore. Despite a significant 25% increase in the port's net fuel imports this month, Singapore’s fuel oil stocks have fallen below 19 million bbls. Fuel oil imports have increased by 1 million bbls, surpassing the 106,000-bbl growth in exports this month. The port’s middle distillate stocks have also declined, averaging 3% lower for the month.

In Malaysia's Port Klang, VLSFO and LSMGO grades are readily available, with recommended lead times of 3-5 days. Some suppliers can provide even faster deliveries for smaller parcel sizes. However, HSFO availability remains constrained due to limited product availability.

In the Indonesian ports of Jakarta and Surabaya, the availability of VLSFO and LSMGO remains good. Additionally, the port of Balikpapan has an ample supply of VLSFO, with recommended lead times of around four days.

China, East Asia and Oceania

Prompt availability of VLSFO and LSMGO grades remains constrained in Zhoushan, with suppliers recommending lead times of 5-7 days, unchanged from last week. HSFO supply has tightened due to the suspension of operations at the Dading oil terminal after a recent oil spill incident. Most suppliers are advising lead times of over two weeks for HSFO there, according to a source.

In Northern China, the availability of VLSFO and LSMGO grades is said to be good in the Dalian port. Similarly, both grades are readily available in Qingdao and Tianjin, though HSFO supply is limited in these ports. In Shanghai, VLSFO and LSMGO availability remain normal, while HSFO supply has been scarce. In Fuzhou and Xiamen, VLSFO and LSMGO grades are readily available. In Guangzhou and Yangpu, prompt availability of both low-sulphur fuel grades remains limited.

In Taiwanese ports including Hualien, Kaohsiung, Taichung and Keelung, the availability of VLSFO and LSMGO remains good, with lead times remaining at 2-3 days.

In Hong Kong, all grades are readily available, with recommended lead times of 3-5 days, while certain suppliers can provide faster deliveries for smaller parcel sizes.

Strong wind gusts of 21-27 knots and swells of close to two metres are forecast to hit the port between Tuesday and Wednesday, which might impact bunker deliveries in Hong Kong.

In South Korean ports, bunker demand has seen an improvement compared to last week, according to a source. Lead times for VLSFO and LSMGO range between 3-10 days, contrasting with the shorter lead times of around four days observed last week. HSFO availability has become tighter, with most suppliers recommending lead times of 8-10 days – a significant increase from around four days last week.

Bunker operations in several South Korean ports, including Ulsan, Onsan, Busan, Daesan, Taean, and Yeosu, may experience intermittent bunkering disruptions throughout the week due to anticipated adverse weather conditions.

High bunker prices in Japanese ports continue to dent bunker demand in the country. Tokyo's VLSFO was priced about $27-28/mt higher than VLSFO prices in Zhoushan and Singapore on Tuesday. Lead times varied widely across major Japanese ports, with approximately seven days in Tokyo, Chiba, Osaka, Kobe Nagoya, and Yokkaichi, and longer periods ranging from 11-15 days in Mizushima and Oita.

In Western Australia, suppliers in Kwinana and Fremantle ports can offer VLSFO and LSMGO, typically with lead times ranging from 7-8 days. In New South Wales, LSMGO is readily available in Sydney, while HSFO supply is mostly available upon enquiry. In Victoria, Melbourne offers good availability of VLSFO and LSMGO, with ample VLSFO supply also found in Geelong. However, prompt HSFO supply can be limited in both Victorian ports.

In Queensland, Brisbane and Gladstone ports maintain sufficient stocks of VLSFO and LSMGO, with lead times of 7-8 days. HSFO availability remains constrained in Brisbane.

In New Zealand, VLSFO supply in Tauranga and Auckland is ample, and LSMGO supply remains satisfactory in Auckland. Anticipated adverse weather conditions in Tauranga from Tuesday to Friday may impact bunker operations.

Likewise, rough weather is predicted in the Thai ports of Koh Sichang and Leam Chabang on Saturday, potentially posing challenges for bunker deliveries in these ports.

South Asia

In several Indian ports, including Mumbai, Kandla, Tuticorin, Chennai, Cochin, Visakhapatnam, and Haldia, availability of VLSFO and LSMGO has been limited due to supply shortages. One supplier in Paradip is nearly depleted of VLSFO and LSMGO stocks.

Vessel movements and cargo operations at Haldia resumed on Tuesday following the passing of cyclone Remal, which transitioned from a cyclonic storm on Monday to a deep depression by Tuesday, as reported by GAC Hot Port News.

Adverse weather conditions are expected intermittently throughout the week at Sikka, Kandla, and Cochin ports in India, potentially disrupting bunker operations.

The Sri Lankan port of Colombo offers abundant VLSFO and LSMGO supply, with lead times of around two days recommended there. Adverse weather conditions may impact bunker deliveries at the port between Tuesday and Friday.

Middle East

At the UAE port of Fujairah, bunker demand for all grades remains low. However, availability for immediate delivery is still limited, with most suppliers requiring lead times of 5-7 days.

Similarly, at the UAE port of Khor Fakkan, lead times of 5-7 days are common among suppliers.

In Saudi Arabia's Jeddah port, there is enough supply of VLSFO and LSMGO. In Djibouti, some suppliers are facing shortages of VLSFO, although LSMGO remains unaffected.

LSMGO is easily accessible in Omani ports, including Sohar, Salalah, Muscat, and Duqm.

By Tuhin Roy

 

Photo credit and source: ENGINE
Published: 29 May 2024

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Bunker Fuel

ENGINE: Americas Bunker Fuel Availability Outlook (23 May 2024)

Good availability in Houston; low demand in New York; availability remains tight in Rio Grande.

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RESIZED ENGINE Americas

The following article regarding bunker fuel availability in the Americas region has been provided by online marine fuel procurement platform ENGINE for post on Singapore bunkering publication Manifold Times:

  • Good availability in Houston
  • Low demand in New York
  • Availability remains tight in Rio Grande

North America

Bunker demand has started to pick up again in Houston this week, after subdued demand noted in the previous week. Availability of all grades is normal, and most suppliers are able to timely deliver stems due to good weather conditions.

Currently, most suppliers are able to offer VLSFO and LSMGO stems with a lead time of 3-4 days, down from last week’s 5-6 days. HSFO can also be secured within five days of lead time, a source says.

Prompt supply of VLSFO and LSMGO is also available in Bolivar Roads and Beaumont. However, bunker deliveries are subject to weather conditions and the availability of anchorage space in both locations, a source says.

Strong wind gusts of up to 29 knots were reported in the Galveston Offshore Lightering Area (GOLA) on Thursday morning. Despite this, bunkering was mostly unaffected in GOLA.

Demand has been good in GOLA this week, and several suppliers are offering stems for prompt dates as well as for dates further out.

Demand has dropped in the West Coast ports of Long Beach and Los Angeles. VLSFO and LSMGO availability have held better in both ports. One supplier can offer LSMGO stems with a lead time of 3-4 days. Lead times of 5-7 days are still recommended for the grade to ensure full coverage from suppliers and in order to avoid price premiums for faster deliveries, a trader said.

All grades remain in normal supply for prompt dates in the East Coast port of New York. Overall, bunker demand has slowed in New York this week.

Port operations and bunkering activities have returned to normal in Baltimore after the cargo ship Dali was successfully removed on Monday. The port has not yet seen a significant increase in bunker demand, but traders anticipate more demand in June.

Caribbean and Latin America

Bunker fuel demand has dropped in Panama's Balboa port this week compared to robust demand observed in the previous weeks. Product availability is good, with several suppliers able to supply all fuel grades with a lead time of 3-4 days.

Prompt availability of both VLSFO and LSMGO has been tight off Trinidad, and delivery prospects are mostly subject to enquiries, a source says. The earliest delivery dates with one supplier can stretch out to the first week of June.

VLSFO and LSMGO grades are available at Argentina’s Zona Comun anchorage, with recommended lead times of 6-7 days. Bunker demand has been good in the past week. While calmer weather conditions have enabled suppliers to deliver stems on time, adverse weather is predicted to hit the region on Thursday evening, potentially affecting bunker operations in Zona Comun.

Bunker fuel availability has been normal in the Brazilian ports of Santos, Salvador and Paranaguá. Several suppliers are able to offer stems with a lead time of 5-6 days. In other Brazilian ports like Rio de Janeiro, Rio Grande and Itaqui availability remains tight.

In Rio Grande, availability remains tight because of recent flooding in the area. Bunkering is available in the anchorage and berth areas, but these deliveries are subject to approval from the port authority, a source says.

By Debarati Bhattacharjee

 

Photo credit and source: ENGINE
Published: 24 May, 2024

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