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JLC China Bunker Market Monthly Report (March 2026)

Country’s bonded bunker fuel sales rallied in March, as shipping industry became more active amid work and production resumption after CNY; many ships bypassed Strait of Hormuz and arrived at Chinese ports.

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JLC China Bunker Market Monthly Report (March 2026)

Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for March 2026 with Manifold Times through an exclusive arrangement:

Bunker Fuel Demand

China’s bonded bunker fuel sales rebound in March

China sold roughly 1.85 million mt of bonded bunker fuel in March, with the daily sales at 59,755 mt, up by 9.75% from the prior month and 9.64% from a year earlier, JLC’s data shows.

The country’s bonded bunker fuel sales rallied in March, as the shipping industry became more active amid work and production resumption after the Chinese New Year holiday.

Meanwhile, due to the conflict in the Middle East, many ships bypassed the Strait of Hormuz and arrived at Chinese ports, and they called for more bunker fuels for the longer voyage, which also drove up the country’s sales.

Regarding the sales by supplier, the sales by Chimbusco, Sinopec (Zhoushan), SinoBunker, and China Changjiang Bunker (Sinopec) respectively settled at 500,000 mt, 600,000 mt, 88,500 mt, and 15,000 mt in the month, while those by suppliers with regional bunkering licenses settled at 648,900 mt.

Chinese refiners ramp up LSFO production in March

Chinese refiners ramped up their LSFO production in March, as production margins improved amid surging LSFO prices and downstream demand increased.

These refiners produced 990,000 mt of LSFO in the month, with the daily output at 31,935 mt, a boost of 14.20% month on month, JLC’s data shows.

Sinopec’s LSFO output increased in the month, with Qingdao Petrochemical raising its output significantly.

Meanwhile, Shanghai Petrochemical and Shanghai Gaoqiao Petrochemical resumed their LSFO production after wrapping up maintenance.

PetroChina also recorded an output increase as several refineries, including Liaohe Petrochemical, Dalian WEPEC, Jinzhou Petrochemical, and Jinxi Petrochemical, boosted production.

CNOOC’s LSFO output climbed moderately . Zhoushan Petrochemical postponed the production of 40,000 mt for February, and these cargoes were delivered together with the 60,000 mt of LSFO for March. Zhongjie Petrochemical did not produce any LSFO in the month, while T aizhou Petrochemical and Huizhou Petrochemical lowered their daily output.

ZPC and Sinochem did not produce any LSFO in March, but the latter produced and exported 8,000 mt of MGO.

On a year-on-year comparison, however, China’s LSFO output fell by 12.00% in March, the data indicates.

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Domestic-trade heavy bunker fuel demand strengthens in March

Domestic-trade heavy bunker fuel demand climbed to 340,000 mt in March, with the daily demand at 10,968 mt, up by 5.90% month on month, JLC’s data shows.

Shipowners increased purchases of heavy bunker fuel as their inventories became relatively low after the Chinese New Year holiday. However, the demand growth was not significant when some buyers adopted a cautious attitude towards surging bunker fuel prices.

By contrast, domestic-trade light bunker fuel demand settled at 130,000 mt in March, with the daily demand at 4,194 mt, a plunge of 16.13% month on month, the data shows. Buying interest in light bunker fuel was depressed by soaring prices.

Bunker Fuel Supply

China’s bonded bunker fuel imports surge in Jan-Feb

China’s bonded bunker fuel imports surged in the first two months of this year when domestic LSFO production decelerated.

Chinese bunker suppliers imported a total of 1.21 million mt of bonded bunker fuel in January-February, leaping by 41.44% year on year, JLC’s calculations show, based on the GACC data.

Domestic LSFO output fell significantly amid bad production margins, forcing bonded distributors to increase their imports to meet demand. The arrivals of bonded HSFO were still relatively high, while those of MGO were normal.

Singapore topped all suppliers in the two months, exporting about 435,300 mt of bonded bunker fuel to China, representing 35.90% of China’s total imports. Malaysia ranked second with about 380,000 mt, accounting for 31.34%, followed by South Korea with about 197,200 mt, accounting for 16.27%. Russia took the fourth place with about 158,000 mt, occupying 13.03%, while Japan ranked fifth with about 41,900 mt, accounting for 3.46%.

China’s bonded bunker fuel imports settled at 453,700 mt in January, a plunge of 46.52% month on month but an upsurge of 83.61% year on year, calculations show. The imports soared to 758,700 mt in February, up by 67.23% month on month and 24.36% year on year.

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Domestic-trade heavy bunker fuel supply increases in March

Chinese blenders supplied 380,000 mt of domestic-trade heavy bunker fuel in March, with the daily supply at 12,258 mt, an increase of 14.41% month on month, JLC’s data shows.

Blenders boosted their heavy bunker fuel production as low-sulfur residual oil supply increased after the Chinese New Year holiday. Meanwhile, these blenders showed increasing production enthusiasm when downstream demand grew.

On the contrary, domestic-trade MGO supply settled at 160,000 mt in March, with the daily supply at 5,161 mt, a cut of 9.68% month on month, the data shows. Chinese refineries maintained low MGO production as crude supply tightened amid geopolitical tensions.

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Bunker Prices, Profits

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Yvette Luo
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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.

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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: 13 April, 2026

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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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