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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)
Related: JLC China Bunker Fuel Market Monthly Report (May 2024)
Related: JLC China Bunker Market Monthly Report (April 2024)
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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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

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Photo credit: DNV
Published: 4 September, 2026

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