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JLC China Bunker Market Monthly Report (June 2022)

China’s bonded bunker fuel sales moved lower to around 1.55 mln mt in June when most ports remained short of fuel, down 2.5% from May, JLC’s data shows.

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Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for June 2022 with Manifold Times through an exclusive arrangement:

Bunker Fuel Demand

Bonded bunker fuel sales continue downtrend in June

China’s bonded bunker fuel sales still went downhill in June when most ports remained short of fuel. China’s bonded bunker fuel sales moved lower to around 1.55 mln mt in the month, down 2.5% from May, JLC’s data shows.

Chimbusco and Sinopec sold about 580,000 mt and 660,000 mt of bonded bunker fuel in June, JLC’s data indicates. Bonded bunker fuel sales for SinoBunker and China ChangJiang Bunker (Sinopec) were 65,000 mt and 35,000 mt, respectively. Around 193,800 mt of of sales were made by suppliers who held local licenses, with PetroChina accounting for 75,400 mt.

An insufficiency in supply still hampered bonded bunker fuel sales during the month, causing a drop-off in sales at ports including Zhoushan and Dalian. In addition, sky-high fuel oil prices and low freight rates also made the Southern barge market run tight, limiting the sales volume.

China’s bonded bunker fuel exports rallied in May amid increasing production of low-sulfur fuel oil (LSFO) and a new batch of LSFO quotas.

China’s bonded bunker fuel exports climbed to 1.48 million mt in May 2022, up 14.9% month on month but down 9.18% year on year, according to data from the General Administration of Customs of the People’s Republic of China (GACC).

Among May’s exports were approximately 1.40 million mt of heavy bunker fuel and 72,900 mt of light MGO, accounting for 95.07% and 4.93% respectively.

State-owned enterprises exported about 1.26 million mt of bonded bunker fuel in the month, accounting for 85.37% of the total, while exports by independent enterprises settled at 216,100 mt, accounting for 14.63%.

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Domestic bunker fuel demand holds steady in June

Domestic bunker fuel demand remained largely stable in June, owing to a mix of conditions when buyers raised their bids amid robust crude prices and tight supply but some ship owners suspended shipping due to high costs and excess shipping capacity.

The demand for domestic-trade heavy bunker fuel was around 320,000 mt in the month, growing by 10,000 mt or 3.23% month on month. Meanwhile, due to higher electricity consumption in the southern regions during hotter weather and more shipping of the fuel for power generation, demand for light bunker fuel increased by 10,000 mt, or 7.14%, to roughly 150,000 mt.

Bunker Fuel Supply

Bonded bunker fuel imports rise on stock shortage in May

China’s bonded bunker fuel imports saw a bounce in May as some Chinese bonded bunker suppliers were running out of their inventories.

The country imported about 354,200 mt of bonded bunker fuel in May 2022, rising 15.64% from a month before, according to the data from the General Administration of Customs of PRC (GACC).

Although the imported sources still lacked price advantages, some buyers had to purchase imported low-sulfur resources after using up their inventories as home-produced low-sulfur resources struggled to meet domestic demand. The supply of bonded bunker fuel was even suspended in certain places.

Despite a month-on-month rise, however, the arrivals of the imported bunker fuel were still relatively dull. On a year-on-year comparison, the bonded bunker fuel imports plunged 57.84% in May, GACC data shows.

Underlying the slump were steep import costs amid excessive freight rates for the cargoes and high premiums for imported bonded bunker fuel. In addition, the supply of low-sulfur fuel oil (LSFO) continued to tighten in Singapore and Malaysia, the two critical suppliers of LSFO to China, forcing most domestic buyers to give priority to domestic low-sulfur resources.

In terms of the source country, the UAE maintained its first place by exporting 202,800 mt of bonded bunker fuel to China, accounting for 57% of China’s total bonded bunker fuel imports. Malaysia climbed to the second place with 82,900 mt, accounting for 24%. The followings were Russia and South Korea, with 40,000 mt from Russia and 28,000 mt from South Korea, accounting for 11% and 8% respectively. The imports from Singapore tumbled to merely 500 mt, accounting for 0.14%.

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Domestic blended bunker fuel supply remains in rise in June

Chinese blenders supplied around 380,000 mt of heavy bunker fuel in total in June 2022, a buildup of 50,000 mt or 15.15% from the previous month, JLC’s data shows. As for light bunker fuel, the domestic marine gas oil (MGO) supply stood at around 170,000 mt in the month, rising by 20,000 mt or 13.33% from May.

The blended bunker fuel supply expanded from the month before on the strength of improving demand following the easing of virus-related limitations and the increased restarts of refinery production in June.

In detail, the supply of low-sulfur asphalt had indeed shrunk, since profits from the coking and low-sulfur bonded bunker fuel sectors looked more encouraging. Meanwhile, available resources of shale oil and light coal tar were also under a cut during the month, albeit not a sharp one when market activity remained fair with blenders’ stable procurement. Going against the others, coal-based diesel supply was bumped up amid remarkable unit margins, by which a marked uplift was seen in the overall oil product output throughout the month.

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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 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 (May 2022)
Related: JLC China Bunker Market Monthly Report (April 2022)
Related: JLC China Bunker Market Monthly Report (March 2022)
Related: JLC China Bunker Market Monthly Report (February 2022)
Related: JLC China Bunker Market Monthly Report (January 2022)

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 that period is available here.

Photo credit: JLC Network Technology
Published: 13 July, 2022

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Bunker Fuel

Singapore: Bunker sales volume raises to year record high of 4.88 million mt in May

Bio-blended variants of marine fuel oil jumped 671.7% to 40,900 mt when compared to figures seen in May 2024.

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SG bunker performance May 2025

Bunker fuel sales at Singapore port inched forward by 1.1% on year in May 2025, the highest volume seen in 2025, according to Maritime and Port Authority of Singapore (MPA) data.

In total, 4.88 million metric tonnes (mt) (exact 4,878,100 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in April, up from 4.83 million mt (4,826,800 mt) recorded during the similar month in 2024.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in May (against on year) recorded respectively 1.89 million mt (+8.6% from 1.74 million mt), 2.45 million mt (-7.2% from 2.64 million mt), 1,200 mt (from zero), 1,700 mt (-88% from 14,300 mt) and zero (from zero).

SG bunker port performance May 2025

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in May (against on year) recorded respectively 40,900 mt (+671.7% from 5,300 mt), 95,800 mt (+97.9% from 48,400 mt), 700 mt (from zero), zero (from zero) and zero (from 300 mt). B100 biofuel bunkers, introduced in February this year, recorded 1,900 mt of deliveries in May.

LNG and methanol sales were respectively 45,000 mt (-7.8% from 48,800) and zero (from 1,600 mt). There were no recorded sales of ammonia for the month and so far in 2025.

Related: Singapore: Bunker fuel sales increase by 4% on year in April 2025
RelatedSingapore: Bunker fuel sales increase by 0.5% on year in March 2025
Related: Singapore: Bunker fuel sales down by 8.1% on year in February 2025
Related: Singapore: Bunker fuel sales down by 9.1% on year in January 2025

A complete series of articles on Singapore bunker volumes reported by Manifold Times tracked since 2018 can be found via the link here.

 

Photo credit: Maritime and Port Authority of Singapore
Published: 16 June 2025

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Bunker Fuel

Panama bunker sales volume up 13.9% on year to 453,397 mt in May 2025

Total bunker sales at Panama was 453,397 metric tonnes (mt) in May 2025, compared to sales of 398,964 mt during the similar period in 2024.

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RESIZED Panama

Bunker fuel sales at Panama increased by 13.9% in May 2025, according to the latest data from La Autoridad Maritima de Panama, also known as the Panama Maritime Authority (PMA).

Total bunker sales at Panama was 453,397 metric tonnes (mt) in May 2025, compared to sales of 398,964 mt during the similar period in 2024.

In May 2025, the Pacific side of Panama posted bunker sales of 368,419 mt; 213,589 mt of VLSFO, 117,297 mt of RMG 380, 1,538 of marine gas oil (MGO), and 35,995 mt of low sulphur marine gas oil (LSMGO) were delivered.

The similar region saw total marine sales of 323,084 mt a year before in May; with VLSFO sales at 184,761 mt, RMG 380 sales at 112,011 mt, MGO sales at 2,199 mt, and 24,113 mt of LSMGO being sold.

Panama’s Atlantic side, meanwhile, recorded total bunker fuel sales of 84,978 during May 2025; the figure comprised 63,318 mt of VLSFO, 8,575 mt of RMG 380, 1,987 mt of MGO, and 11,098 mt of LSMGO.

It saw total sales of 74,980 mt in May a year before; with VLSFO sales of 59,855 mt, RMG 380 sales of 6,508 mt, 1,545 mt of MGO, and LSMGO sales of 7,072 mt.

 

Photo credit: George Keel
Published: 16 June 2025

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Research

GCMD presents key learnings from ammonia STS transfer trial at Pilbara, Australia

Findings share operational recommendations for both bunker tankers and receiving vessels for ammonia bunkering operations.

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GCMD path to zero carbon shipping

The Global Centre for Maritime Decarbonisation (GCMD) on Friday (13 June) launched its Path to Zero-Carbon Shipping – Insights from ammonia transfer trial in the Pilbara report.

The document captures key learnings from a pilot involving the ship-to-ship transfer of liquid ammonia between two gas carriers — the Green Pioneer and the Navigator Global — at anchorage off Port Dampier in the Pilbara, Western Australia.

The trial demonstrated that ship-to-ship ammonia transfer at anchorage can be both safe and practicable, provided that recommended safeguards and operational controls are implemented.

To share these crucial learnings with the industry, the report offers quantitative insights from executing the trial, forming a reference for future pilots and eventual commercial-scale operations.

The report offers:

Project background and objectives: An overview of the trial’s goals and operational context

Detailed safety studies covering four key areas:

  • Feasibility: Response motions and mooring analysis
  • Risks: HAZID and HAZOP findings and mitigations
  • Consequences: Computational Fluid Dynamics (CFD) plume dispersion modelling
  • Response: Emergency Response measures and protocols

Operation execution overview: A detailed account of the actual transfer operation, including the Joint Plan of Operations (JPO), assets deployed and a timeline of key events.

Optimising ammonia bunkering: Operational recommendations for both bunker tankers and receiving vessels, covering aspects such as transfer system setup, manifold arrangement, sample collection and more. A checklist of ERP resources required onboard is also included.

“In the past, bunkering guidelines took years to develop and were typically derived from experience with actual operations,” said Professor Lynn Loo, CEO of GCMD.

“In this case, guideline development is preceding actual commercial-scale operations, making it all the more important that these trials are as informative and comprehensive as possible so they can serve as a relevant reference for industry bodies in refining safe handling procedures, emergency response plans, and operational guidelines.”

Note: The full report of Path to Zero-Carbon Shipping – Insights from ammonia transfer trial in the Pilbara can be downloaded here.

 

Photo credit: Global Centre for Maritime Decarbonisation
Published: 16 June 2025

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