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JLC China Bunker Market Monthly Report (June 2021)

Bonded bunker sales for state-owned enterprises and Zhoushan enterprises were 1.47 mln mt and 155,800 mt, accounting for 90.42% and 9.58%.

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Bonded bunker fuel sales in Zhoushan June

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

Bunker Fuel Demand

Bonded bunker fuel sales grow in June

China’s bonded bunker fuel sales rose slightly to 1.575 mln mt in June, JLC data showed. The shipping demand was generally stable in June. The bunker fuel sales rose in North and East China but dropped in South China amid the resurgence of Covid-19 infection cases. Two state-run companies, Shenzhen Yantian Port Group Co., Ltd. and China Shipping & Sinopec Shenzhen Suppliers Co., Ltd., were granted licenses in June, which may lift the bunker fuel sales in Shenzhen in the future. Chimbusco and Sinopec sold about 630,000 mt and 680,000 mt of bonded bunker fuel, respectively. Bonded bunker fuel sales were about 75,000 mt for SinoBunker and 32,000 mt for China ChangJiang Bunker (Sinopec). New enterprises in the China (Zhejiang) Pilot Free Trade Zone sold 158,100 mt.

China’s bonded bunker fuel exports in May 2021 were 1.63 million mt, down by 20.65% month on month but up by 30.5% year on year, according to GAC data. The stricter control measure on ports pulled down the bunkering volume. China exported 1.54 million mt of heavy bunker fuel and 88,000 mt of light bunker fuel in May.

Bonded bunker sales for state-owned enterprises and Zhoushan enterprises were 1.47 mln mt and 155,800 mt, accounting for 90.42% and 9.58%. Specifically, bonded bunker fuel sales were 710,500 mt for Sinopec, 645,200 mt for Chimbusco, 88,000 mt for SinoBunker, 27,300 mt for China ChangJiang Bunker (Sinopec).

China bunker exports by region 2020 2021 June

China Major Bunker Fuel Suppliers bunker sales June 2021

Domestic bunker fuel demand stable in June

Domestic bunker fuel demand was stable in June. Downstream buyers were active in purchase under the support of high international crude prices. However, the weak shipping demand curbed the increase in bunker demand. End users’ consumption of domestic-trade heavy bunker fuel was about 370,000 mt in the month, flat with the previous month. The continuous rainy weather along the Yangtze River had a negative influence on the shipping market. The demand for light bunker fuel was 130,000 mt in June, down by 10,000 mt from the previous month.

Bunker Fuel Supply

Bonded bunker fuel imports rise in May

China’s bonded bunker fuel imports were 840,000 mt in May, up by 3.39% month on month but down by 45.92% year on year, GAC data showed.

China’s bonded bunker fuel imports did not change much from the previous month as domestic LSFO production remained high and the import resources had no price advantage. Bonder bunker fuel traders made purchases based on their actual needs.

Specifically, the largest import source for China was still Malaysia with 609,500 mt of bunker fuel. Imports from Singapore, Iraq and South Korea were 88,400 mt, 87,000 mt and 55,200 mt respectively.

Bonded Bunker Fuel imports by source May 2021

Domestic blended bunker fuel supply inches down in June

Chinese blending producers supplied a total of around 370,000 mt of heavy bunker fuel in June, down by 10,000 mt or 2.63% from May, JLC data showed. Low-sulfur residue oil and shale oil supply increased in June. Light coal tar and coal-based diesel mainly flowed into the hydrofining field instead of blending due to their high prices. Heavy bunker fuel supply inched down amid the high feedstock prices and waned purchase interest of blenders. Domestic light oil supply was about 150,000 mt in June, flat with the previous month.

Arrival of Imported Fuel Oil Cargoes June

Bunker Prices, Profits

China Main Oil Blending Feedstock Prices June

China Domestic Trading 180 cSt Bunker Fuel Price 2020 2021 June

China bunker Blending Profit by Region 2020 2021 June

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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 Monthly Report (May 2021)
RelatedJLC China Bunker Market Monthly Report (April 2021)
RelatedJLC China Bunker Market Monthly Report (March 2021)
RelatedJLC China Bunker Market Monthly Report (February 2021)
RelatedJLC China Bunker Market Monthly Report (January 2021)
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)
Related: JLC China Bunker Market Monthly Report (July, 2020)
Related: JLC China Bunker Market Monthly Report (June, 2020)
Related: JLC China Bunker Oil Market Monthly Report (May, 2020)

 

Photo credit: JLC Network Technology Co Ltd
Published: 16 August, 2021

 

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Milestone

Singapore retains ranking as world’s top maritime centre for 12th consecutive year

Finds report jointly published by the Baltic Exchange and China’s Xinhua News Agency.

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Singapore bunker tankers and sky

Singapore on Friday (11 July) said it has retained its ranking as the world’s top maritime centre, marking the 12th consecutive year it has led the Xinhua-Baltic International Shipping Centre Development (ISCD) Index.

Jointly published by the Baltic Exchange and China’s Xinhua News Agency, the Xinhua-Baltic ISCD Index provides an independent benchmarking of the world’s leading maritime hubs.

It evaluates factors such as cargo throughput, port infrastructure, maritime services (including finance, law and shipbroking), and the overall business environment.

The index is closely monitored by shipping lines, port investors, and maritime service providers to track market competitiveness, and inform investment location and service development decisions.

Singapore retained its top position among 43 maritime cities and regions, underpinned by its consistent performance as one of the world’s busiest transhipment and bunkering hubs, and a well-established ecosystem of professional maritime services and expertise.

In 2024, Singapore handled 41.12 million twenty-foot equivalent units (TEUs) in container throughput – a record high – and saw total vessel arrival tonnage exceed 3 billion gross tons. The Port of Singapore also remains the world’s largest bunkering port, having supplied 54.92 million tonnes of marine fuel in 2024.

Home to more than 200 international shipping groups and a growing number of maritime technology start-ups, Singapore continues to strengthen its position as a global node for maritime innovation and enterprise.

This growing industry base is also creating new career pathways in areas such as port operations, digital systems management, automation, maritime law, and sustainability – as the sector transforms to meet the needs of a more digital and decarbonised future.

“We thank our industry partners, the research and enterprise community, and our unions who have been instrumental in Singapore’s journey to become a leading international maritime centre and global hub port,” said Ang Wee Keong, Chief Executive of the Maritime and Port Authority of Singapore.

“We will continue to build on this momentum by innovating and investing in digitalisation, green technologies, and workforce development to strengthen Singapore’s position as a trusted and future-ready international maritime centre.”

 

Photo credit: Manifold Times
Published: 14 July 2025

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Research

ICCT policy brief explores benefits of global 0.10% sulphur cap on marine fuels

Studies have found ships using scrubbers with heavy fuel oil emit more particulate matter and black carbon emissions than those using marine gas oil.

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ICCT sulphur policy brief

The International Council on Clean Transportation (ICCT) on Tuesday (8 July) introduced a policy brief examining how further reducing the global maximum allowable fuel sulphur content of bunker fuel from 0.5% to 0.1% could affect air pollution emissions and premature mortality from fine particulate matter (PM2.5).

Currently, ships must adhere to a global 0.5% fuel sulphur limit and a 0.1% limit in ECAs, unless they use scrubbers. However, studies have found that ships using scrubbers with heavy fuel oil emit more particulate matter and black carbon emissions than those using marine gas oil.

The brief considered three compliance pathways:

  1. Scrubber Max scenario in which ships that use very-low sulfur fuel oil (VLSFO) switch to high-sulfur heavy fuel oil (HFO) with scrubbers to comply;
  2. Scrubber Allowed scenario in which ships that use VLSFO switch to marine gas oil (MGO) to comply;
  3. Distillate Only scenario in which scrubbers are not allowed and ships that use HFO and scrubbers or VLSFO switch to MGO to comply.

In summary, the research found that relative to a baseline scenario based on 2023 ship activity data, reducing the sulphur content of marine fuels to comply with a 0.1% sulphur limit would:

  • Mitigate air pollution. Across the three compliance scenarios, shipping-attributable sulfur oxide emissions are estimated to fall by 75%–85%, PM2.5 by 46%–66%, and black carbon by 27%–41%. The scenario prohibiting scrubbers yields the highest estimated emission reductions.
  • Reduce premature deaths. The three compliance scenarios avoid between 3,900 and 4,500 premature deaths annually, with the most significant reductions achieved when scrubbers are not allowed.
  • Deliver substantial economic benefits. Health-related economic benefits are estimated to range from $9.3 billion to $10.9 billion annually, depending on the compliance pathway.
  • Incentivize cleaner fuels. A global 0.1% sulfur standard that promotes distillate fuel use would increase baseline fossil fuel costs and reduce the price gap between conventional and zero or near-zero greenhouse gas emission fuels.

The complete policy brief Health and air pollution benefits of a global 0.1% fuel sulfur limit  on marine fuels can be obtained from the link here.

 

Photo credit: International Council on Clean Transportation
Published: 9 July 2025

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Research

Integr8 Fuels report shares comprehensive analysis of Mediterranean ECA

Data reveals a market in rapid transition, confirming some industry predictions while uncovering new, emerging risks for ship operators.

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Integr8 Fuels trading intelligence (July 2025)

International bunker trading firm Integr8 Fuels on Monday (7 July) shared its new report ‘Mediterranean ECA: Immediate Operational and Commercial Impact of Implementation’ which provides the first comprehensive analysis of the rule’s effects on fuel quality and regional availability.

The data reveals a market in rapid transition, confirming some industry predictions while uncovering new, emerging risks for ship operators. The following key findings include:

  1. Dramatic Supply Shift Confirmed: VLSFO Availability Contracts Sharply. VLSFO’s share of the Mediterranean fuel market has plummeted from over 60% in December to just 37.5% in May. In parallel, the number of ports supplying VLSFO has fallen by 47%, creating new logistical challenges for vessels that continue to use the grade.
  2. VLSFO Instability Spikes as Supply Chain Adapts. Very Low Sulphur Fuel Oil (VLSFO) off specification rates more than doubled from 1.5% in December to 3.8% in May. Critically, one in four (25%) of these off-specs were for total sediment potential (TSP), indicating a rising risk of sludge formation that can damage engines. This trend appears linked to extended in-tank storage and the consolidation of older fuel stocks as demand slows and suppliers pivot away from VLSFO.
  3. Persistent Flash Point Risks in Key LSMGO Hubs. Flash point non-conformance has increased significantly and now accounts for over two-thirds of all LSMGO off specs. Our data shows this is not a random problem, with over 75% of all flash point incidents concentrated in Spain, Turkey, and Italy, signalling a persistent potential for SOLAS violations in core supply zones.

Note: The full report may be obtained from Integr8 Fuels here.

 

Photo credit: Integr8 Fuels
Published: 8 July 2025

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