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JLC China Bunker Market Monthly Report (March 2025)

Country sold about 1.69 million mt of bonded bunker fuel in the month, with daily sales at 54,503 mt, a moderate increase of 0.28% from February, JLC’s data indicates.

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JLC China Bunker Market Monthly Report (March 2025)

Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for March 2025 with Manifold Times through an exclusive arrangement:

Bunker Fuel Demand

China’s bonded bunker fuel sales inch up in March

China’s bonded bunker fuel sales inched up in March, as global shipping demand picked up and trade became more active.

The country sold about 1.69 million mt of bonded bunker fuel in the month, with daily sales at 54,503 mt, a moderate increase of 0.28% from February, JLC’s data indicates.

Bonded bunker fuel sales by Chimbusco, Sinopec (Zhoushan), SinoBunker and China Changjiang Bunker (Sinopec) settled at 460,000 mt, 570,000 mt, 43,000 mt and 30,000 mt in the month, while suppliers with regional bunkering licenses sold 586,600 mt.

The growth was somewhat capped by bearish sentiment which was triggered by falling prices.

Chinese refiners cut their bonded bunker fuel exports in Jan-Feb

Chinese refiners cut their bonded bunker fuel exports in January-February 2025, as domestic supply tightened and global bunker demand was relatively tepid.

These refiners exported 2.93 million mt of bonded bunker fuel in the two months, with the daily exports down by 1.59% year on year to 49,612 mt, JLC calculated, with reference to data from the General Administration of Customs of PRC (GACC).

The decline mainly came as domestic low-sulfur fuel oil (LSFO) output dropped. China’s LSFO output totaled 2.47 million mt in January-February, with the daily output slipping by 3.62% year on year to 41,780 mt, JLC’s data shows.

Shipowners showed limited buying interest in bonded bunker fuel as global shipping demand was tepid. 

In addition, there were two fewer working days in January-February 2025 than in 2024, which also led to a decline in the country’s exports.

China’s bonded bunker fuel exports settled at 1.34 million mt in January, down by 7.00% from the previous month and 24.79% from a year earlier, JLC’s calculation shows, based on the GACC data.

The exports were 1.59 million mt in February, with the daily exports at 46,746 mt, jumping by 31.46% month on month and 32.12% year on year.

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Domestic-trade heavy bunker fuel demand slips in March

Domestic-trade heavy bunker fuel demand slipped in March, as supply in East China tightened when local blenders suspended their blending business amid strict tax inspection.

Domestic-trade heavy bunker fuel demand settled at 360,000 mt in the month, shrinking by 10,000 mt or 2.70% from the prior month, JLC’s data shows.

However, shipowners in East China increased their cross-regional purchases, putting a cap on the demand decline. In addition, terminal transportation demand grew amid warmer weather.

Conversely, domestic-trade light bunker fuel demand came in at 150,000 mt in March, rising by 10,000 mt or 7.14% from a month earlier, the data shows. Diesel demand was still recovering with the temperatures gradually climbing.

Bunker Fuel Supply

China’s bonded bunker fuel imports soar in first two months

China’s bonded bunker fuel imports soared in the first two months of this year, as domestic LSFO production fell and bonded distributors in East China boosted their imports when inflows of low-sulfur resources from North China decreased.

China imported a total of 857,200 mt of bonded bunker fuel in January-February 2025, significantly up by 47.31% from the same months in 2024, JLC calculated, with reference to data from the GACC.

The daily imports settled at 14,529 mt in the two months, surging by 49.81% year on year, JLC’s calculation shows, based on the GACC data (different rises were due to one fewer day in January-February 2025 than in 2024).

Malaysia ranked first among all suppliers by exporting 416,600 mt of bonded bunker fuel to China in the period, accounting for 48.60% of the latter’s total imports. Singapore came in second with 199,600 mt, accounting for 23.29%. Brazil ranked third with 143,600 mt, accounting for 16.75%, followed by South Korea with 97,400 mt, occupying 11.36%.

China’s bonded bunker fuel imports settled at 247,100 mt in January, plunging by 77.42% month on month and 31.21% year on year, JLC calculated, based on the GACC data. Chinese refiners resumed normal LSFO production in the month as they had obtained new export quotas.

In February, the country’s imports settled at 610,100 mt, with the daily imports at 21,789 mt, an upsurge of 173.36% month on month and 183.74% year on year, JLC’s calculation shows, based on the GACC data.

Due to the Chinese New Year holiday, the customs clearance of some cargoes arriving in late January was delayed into February, leading to a sharp increase in February’s imports.

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Domestic-trade heavy bunker fuel supply declines in March

Domestic-trade heavy bunker fuel supply declined in March, as the availability of low-sulfur residual oil decreased and the blending business in East China was basically suspended.

Blenders supplied about 350,000 mt of domestic-trade heavy bunker fuel in the month, a cut of 20,000 mt or 5.41% from the previous month, JLC’s data shows.

Blendstock supply was insufficient as low-sulfur residual oil supply tightened, though supply of shale oil and light coal tar was largely stable. Meanwhile, blenders in East China suspended their blending amid tax inspection.

However, bunker fuel supply in North China grew slightly as cross-regional purchases increased, which offset some downward pressure on the overall supply .

Domestic-trade light bunker fuel supply settled at 150,000 mt in March, unchanged month on month, the data shows. Most participants still based their purchases on rigid demand.

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Bunker Prices, Profits

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JLC Network Technology Co., Ltd is recognised as the leading information provider in China. We specialise 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 (February 2025)
Related: JLC China Bunker Fuel Market Monthly Report (January 2025)
Related: JLC China Bunker Fuel Market Monthly Report (December 2024)
Related: JLC China Bunker Fuel Market Monthly Report (November 2024)
Related: JLC China Bunker Fuel Market Monthly Report (October 2024)
Related: JLC China Bunker Fuel Market Monthly Report (September 2024)
Related: JLC China Bunker Fuel Market Monthly Report (August 2024)
Related: JLC China Bunker Fuel Market Monthly Report (July 2024)
Related: JLC China Bunker Fuel Market Monthly Report (June 2024)
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Related: JLC China Bunker Market Monthly Report (March 2024)
Related: JLC China Bunker Fuel Market Monthly Report (February 2024)
Related: JLC China Bunker Market Monthly Report (January 2024)

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: 11 April, 2025

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Mass Flowmeter

Hong Kong backs MFM adoption with voluntary scheme to boost bunkering competitiveness

Hong Kong’s Marine Department launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems on their bunker vessels.

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RESIZED EH dual mfm setup

Hong Kong’s Marine Department (MD) on Wednesday (3 June) launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems (MFM systems) on their bunker vessels.

MD said the scheme aims to enhance Hong Kong’s bunkering service quality and the competitiveness of Hong Kong ports, thereby further consolidating Hong Kong’s position as an international maritime centre and a major bunkering port.

Under the Scheme, bunker operators of traditional maritime fuel and biodiesel that install and use MFM systems on their bunker vessels, with the MFM systems inspected and certified by an accredited body in accordance with the International Organization for Standardization’s ISO 22192 Standard or equivalent requirements, can apply to the MD for inclusion in the scheme’s “List of Quality Bunker Vessels”, provided they meet the relevant technical and operational requirements. 

Details of the bunker vessels successfully included in the List will be published on a dedicated page on the MD’s website for reference by shipping companies and relevant stakeholders.

Participation in the Scheme is voluntary. In addition to receiving recognition from the MD, participating bunker operators will benefit from enhanced corporate image and competitiveness through the adoption of MFM systems, thereby boosting customers’ confidence and helping to create new business opportunities.

 A spokesman for the MD, said: “As an international maritime centre supported by our country, Hong Kong has a strategic location adjacent to major international fairways. Coupled with years of development in marine fuel bunkering, Hong Kong possesses rich experience and talent in the field. For many years, Hong Kong has consistently ranked as the seventh-largest bunkering port globally, the second-largest in our country, and the largest in the Greater Bay Area, providing reliable and competitive fuel bunkering services to ocean-going vessels from around the world. 

“As the international shipping industry has an increasing demand for accuracy and transparency in bunkering services, service quality and measurement precision in bunkering operations have become important indicators of a bunkering port’s competitiveness. The Scheme will enhance bunkering accuracy and transparency, further enhancing the quality of Hong Kong’s bunkering services.

The spokesman added that comprehensive port services are one of Hong Kong’s key advantages as an international maritime centre.

“We will also mandate the use of MFM systems on all methanol bunker vessels this year to ensure that Hong Kong continues to provide high-quality bunkering services in the era of green maritime fuels.” 

Note: The application form for the Scheme can be found on the MD’s website. Interested bunker operators can download the application form from the website or contact the MD’s Green Maritime Fuel Team via email ([email protected]) for details.

 

Photo credit: Manifold Times
Published: 4 June, 2026

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Alternative Fuels

MPA and MSC ink MoU to support adoption of alternative bunker fuels

MPA and MSC will explore new routes and services to strengthen connectivity, support the adoption of alternative marine fuels such as bio-LNG, and advance technologies to improve vessel energy efficiency.

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MPA and MSC ink MoU to support adoption of alternative bunker fuels

The Maritime and Port Authority of Singapore (MPA) on Wednesday (3 June) said it signed a Memorandum of Understanding (MoU) with MSC Mediterranean Shipping Company to strengthen collaboration in maritime decarbonisation, digitalisation, innovation, and manpower development. 

The MoU was signed on 25 May 2026 by Mr Ang Wee Keong, Chief Executive of MPA, and Mr Soren Toft, Chief Executive Officer of MSC.

The MoU underscores the shared commitment of MPA and MSC to foster a sustainable, digital, and future-ready maritime sector, while enhancing MSC’s operational and business activities in Singapore. This year also marks the 30th anniversary of MSC establishing its Asia Regional Office and local office in Singapore.

Under the MoU, MPA and MSC will explore new routes and services to strengthen connectivity, support the adoption of alternative marine fuels such as bio-LNG, and advance technologies to improve vessel energy efficiency and operational performance.

MPA and MSC will also collaborate on maritime digitalisation initiatives to improve operational efficiency, including streamlining vessel arrivals and port operations. 

On manpower development, MSC will support internship and scholarship opportunities through Singapore Maritime Foundation’s Maritime Outreach Network (MaritimeONE) platform, an industry-led tripartite partnership comprising industry, government and institutes of higher learning that aims to raise awareness of the maritime industry and attract quality talent into the maritime sector.

Mr Ang Wee Keong, Chief Executive of MPA, said: “This partnership reflects the strong collaboration between MPA and MSC in driving sustainability and digitalisation in the maritime sector. By working together on decarbonisation, operational efficiency and talent development, we aim to strengthen Maritime Singapore’s position as a trusted and future-ready global maritime hub.”

Mr Soren Toft, Chief Executive Officer of MSC, said: “Singapore is a strategically important hub for MSC and a key gateway to the broader Asia region. As we mark 30 years in Singapore, this MOU reinforces our long-term commitment to strengthening our presence here. MSC and Singapore are closely aligned on the priorities shaping the future of global shipping, and we look forward to deepening this partnership to drive the continued growth and resilience of the maritime industry.”

 

Photo credit: Maritime and Port Authority of Singapore
Published: 4 June, 2026

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Methanol

Seaspan and Hapag-Lloyd complete first of five methanol vessel retrofit

Following “Seaspan Yangtze”, the remaining vessels planned for retrofit under the methanol retrofit programme are “Seaspan Amazon”, “Seaspan Ganges”, “Seaspan Thames”, and “Seaspan Zambezi”.

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Seaspan and Hapag-Lloyd complete first of five methanol vessel retrofit

Seaspan Corporation (Seaspan) and Hapag-Lloyd on Wednesday (3 June) announced the successful completion of the first of the five vessel conversions under their methanol retrofit programme with the delivery of Seaspan Yangtze.

From the early SAVER (Seaspan Action for Vessel Energy Reduction) programme to today’s CleanBlue initiative, Seaspan has committed over USD 230 USD million across 86 vessels, executing more than 550 efficiency and retrofit projects.

Following Seaspan Yangtze, the remaining vessels planned for retrofit under the programme are Seaspan Amazon, Seaspan Ganges, Seaspan Thames, and Seaspan Zambezi. Each retrofit is expected to reduce well-to-wake CO₂e emissions by approximately 30,000 to 50,000 metric tonnes per vessel annually when operating on low-carbon methanol, while also extending vessel lifespan and enhancing fuel flexibility.

“Decarbonisation is not just about building the fleet of tomorrow, it is also about unlocking the full potential of the fleet we have today. Retrofitting and upgrades on existing fleets play a practical, immediate, and economical role in accelerating shipping’s decarbonization journey,” said Bing Chen, Chairman, President and CEO of Seaspan. 

“Project SAVER CleanBlue highlights Seaspan’s strong customer partnerships, deep technical expertise, and unique platform integrated with JV partners, such as WattSpan Maritime Technology, in executing complex and large-scale retrofit projects.”

“The successful conversion of the Seaspan Yangtze together with the planned retrofit of its four sister vessels is another important step on our ambitious path towards net-zero fleet operations by 2045,” said Silke Lehmköster, Managing Director, Fleet, Hapag-Lloyd. 

“Together with Seaspan, we are demonstrating that retrofitting existing vessels for low-carbon methanol can be a practical way to reduce emissions in shipping.”

 

Photo credit: Seaspan
Published: 4 June, 2026

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