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JLC China Bunker Market Monthly Report (November, 2020)

Sales of bonded bunker fuel increased and prices soared in H2 November amid growing trades and economic activities in the upcoming winter season, it said.

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Beijing-based commodity market information provider JLC Network Technology Co. on Wednesday (16 December) shared its JLC China Bunker monthly report for November with Manifold Times through an exclusive arrangement:

JLC China Bunker Market Monthly Report (November, 2020)

Highlights

Demand and Supply

Bunker Fuel Demand

Bonded bunker fuel sales rise in November

In November, China’s bonded bunker fuel sales rose to 1.45 million mt, JLC data showed. As the shipping market improved, sales of bonded bunker fuel increased in November amid growing trades and economic activities. Besides, as bonded bunker fuel prices soared in H2 November, end-user demand perked up amid bullish sentiments. Chimbusco and Sinopec sold about 593,700 mt and 622,000 mt of bonded bunker fuel, respectively. Bonded bunker fuel sales were about 40,200 mt for SinoBunker and 38,000 mt for China ChangJiang Bunker (Sinopec). New enterprises in the China (Zhejiang) Pilot Free Trade Zone sold 161,000 mt.

China’s bonded bunker fuel sales dropped to 1.33 million mt in October, down by 5.43% month on month, according to GAC data. In October, most Chinese ports were closed for bunkering service during the long holiday in early October and strong winds affected eastern port operation at the end of the month, which dampened demand. Specifically, bonded bunker fuel sales were 456,700 mt for Sinopec, 621,400 mt for Chimbusco, 39,300 mt for SinoBunker, 45,900 mt for China ChangJiang Bunker (Sinopec) and 168,200 mt for new enterprises in the China (Zhejiang) Pilot Free Trade Zone.

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Domestic bunker fuel demand climbs in November

Domestic bunker fuel demand rose in November. End users' consumption of domestic-trade heavy bunker fuel was about 330,000 mt in the month, up by 40,000 mt from the previous month. The demand for light bunker fuel was 120,000 mt in November, up by 10,000 mt from October. Demand for coastal coal transport improved significantly in winter. Due to winter storage opportunities amid snows and falling temperature, domestic bunker fuel demand and freight rates rose on tight freight capacity. Besides, bunker fuel prices rose on the back of firm international crude prices and blendstock costs, sparking buying interest of downstream traders.

Bunker Fuel Supply

Bonded bunker fuel imports drop 10.3% in October 

China’s bonded bunker fuel imports were 632,000 mt in October, a drop of 10.3% month on month and a fall of 33.1% year on year, GAC data showed. Imports and exports businesses of some ports were closed for the National Day holiday in October, weighing down on bonded bunker fuel imports. In addition, overseas fuel oil production fell sharply due to large-scale unit maintenance of refineries in Europe. Arbitrage cargoes of fuel oil arriving at Asia fell to a low level and the overall bunker fuel supply in Asia tightened. Therefore, China's bonded bunker fuel imports dropped markedly in October.

Specifically, the largest import source for China was still Malaysia with 425,000 mt of bunker fuel. Imports from South Korea and Singapore were 85,000 mt and 40,000 mt respectively. The imports were 35,000 mt from Russia and 31,000 mt from Iraq. Besides, there were 16,000 mt of imports from Indonesia.

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Domestic blended bunker fuel supply rises in November

Chinese blending producers supplied a total of around 350,000 mt of heavy bunker fuel in November, a rise of 30,000 mt or 9.375% month on month, JLC data showed. In November, low-sulfur residue oil supply rose amid rising downstream demand. As blendstock costs stayed high, blenders tended to raise their prices. Sales climbed on improving market sentiments amid slightly rising prices. Active buying interest and trades were seen in the market as shipping demand was pushed up amid firmer international crude prices. Light bunker fuel supply was about 130,000 mt, up by 10,000 from October as demand edged up.

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JLC Network Technology Co., Ltd is recognised as the leading information provider in China. We specialise in providing transparent, high-value. authoritative market intelligence and professional analysis in commodity markets. Our expertise covers oil, gas. coal, chemical, plastic, rubber. fertilizer and metal industry, etc.

JLC China Bunker Oil Market Monthly Report is published by JLC Network Technology Co., Ltd every month on China bunker market’s, demand, supply, margin, freight index. forecast and so on. The report provides full-scale & concise insight into China’s 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 (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 December, 2020

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Wind-assisted

Singapore: EPS orders its first wind-assisted propulsion system for tanker

Firm signed a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard “Pacific Sentinel”.

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Singapore: EPS orders its first wind-assisted propulsion system for tanker

Singapore-based Eastern Pacific Shipping (EPS) on Thursday (22 February) said it signed a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard the Pacific Sentinel

The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate exceptional propulsive efficiency, will be fitted later this year, helping the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%, depending on vessel routing.

Suitable for both newbuilds and retrofit projects, the system delivers energy efficiency and cost savings for a broad range of vessels, regardless of their size and age.

Singapore: EPS orders its first wind-assisted propulsion system for tanker

José Miguel Bermudez, CEO and co-founder at bound4blue, said: “Signing an agreement with an industry player of the scale and reputation of EPS not only highlights the growing recognition of wind-assisted propulsion as a vital solution for maximising both environmental and commercial benefits, but also underscores the confidence industry leaders have in our proven technology.”

“It’s exciting to secure our first contract in Singapore, particularly with EPS, a company known for both its business success and its environmental commitment.”

“We see the company as a role model for shipping in that respect. As such this is a milestone development, one that we hope will pave the way for future installations across EPS’ fleet, further solidifying our presence in the region.”

Cyril Ducau, Chief Executive Officer at EPS, said: “EPS is committed to exploring and implementing innovative solutions that improve energy efficiency and reduce emissions across our fleet.” 

“Over the past six years, our investments in projects including dual fuel vessels, carbon capture, biofuels, voyage optimisation technology and more have allowed us to reduce our emissions intensity by 30% and achieve an Annual Efficiency Ratio (AER) of 3.6 CO2g/dwt-mile in 2023, outperforming our emission intensity targets ahead of schedule. The addition of the bound4blue groundbreaking wind assisted propulsion will enhance our efforts on this path to decarbonise.”

“With this project, we are confident that the emission reductions gained through eSAILs® on Pacific Sentinel will help us better evaluate the GHG reduction potential of wind assisted propulsion on our fleet in the long run.”

Pacific Sentinel will achieve a ‘wind assisted’ notation from class society ABS once the eSAILs® are installed. 

 

Photo credit: Eastern Pacific Shipping
Published: 23 February, 2024

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Crime

Vietnam: Two ships seized over 170,000 litres of unknown origin diesel oil

Vietnam Coast Guard said vessels were transporting various quantities of oil cargo: KG-91487- DR was transporting about 145,000 litres and KG-91602-TS transported about 25,000 litres.

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Vietnam: Two ships seized over 170,000 litres of unknown origin diesel oil

The Vietnam Coast Guard on Tuesday (20 February) said it seized a total of about 170,000 litres of unknown origin diesel oil in an operation. 

Patrol boats belonging to Coast Guard Region 4 Command detected two fishing boats – KG-91487- DR and KG-91602-TS – displaying several suspicious signs.

Initial investigations found all vessels without invoices and documents proving legal origin of the oil material.

The vessels were transporting various quantities of oil material: KG-91487- DR was transporting about 145,000 litres and KG-91602-TS transported about 25,000 litres.

The authorities made records of administrative violations,and escorted the vessels to Fleet Port 422 in Phú Quốc city, Kiên Giang province for further investigations and handling in accordance with the law.

 

Photo credit: Vietnam Coast Guard
Published: 23 February, 2024

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LNG Bunkering

Galveston LNG Bunker Port joins SEA-LNG coalition

SEA-LNG said move will further enhance its LNG supply infrastructure expertise and global reach, while giving GLBP access to the latest LNG pathway research and networking opportunities.

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Galveston LNG Bunker Port joins SEA-LNG coalition

Galveston LNG Bunker Port (GLBP), a joint-venture between Seapath Group, one of the maritime subsidiaries of the Libra Group, and Pilot LNG, LLC (Pilot), a Houston-based clean energy solutions company, has joined SEA-LNG, according to the latter on Wednesday (21 February). 

SEA-LNG said the move will further enhance its LNG supply infrastructure expertise and global reach, while giving GLBP access to the latest LNG pathway research and networking opportunities.

GLBP was announced in September 2023 and will develop, construct and operate the US Gulf Coast’s first dedicated facility supporting the fuelling of LNG-powered vessels, expected to be operational late-2026.

The shore-based LNG liquefaction facility will be located on Shoal Point in Texas City, part of the greater Houston-Galveston port complex, one of the busiest ports in the USA. This is a strategic location for cruise ship LNG bunkering in US waters, as well as for international ship-to-ship bunkering and cool-down services. GLBP will offer cost-effective turn-key LNG supply solutions to meet growing demand for the cleaner fuel in the USA and Gulf of Mexico.

Jonathan Cook, Pilot CEO, said: “With an initial investment of approximately $180 million, our LNG bunkering facility will supply a vital global and U.S. trade corridor with cleaner marine fuel. We recognise that SEA-LNG is a leading partner and a key piece of the LNG bunkering sector, and will give us access to insights and expertise across the entire LNG supply chain.

“LNG supports environmental goals and human health by offering ship operators immediate reductions in CO2 emissions and virtually eliminating harmful local emissions of sulphur oxides (SOx), nitrogen oxides (NOx) and particulate matter.”

President of Seapath, Joshua Lubarsky, said: “We are very pleased to be supporting the decarbonization of the maritime industry through strategic, and much needed, investments into the supply of alternative fuels.  We are also happy to be a part of SEA-LNG which has done a wonderful job in advocating for advancements in technology in this vital sector.”

Chairman of SEA-LNG Peter Keller, said: “We’re proud to welcome another leading LNG supplier to the coalition and are looking forward to a mutually beneficial relationship. With every investment in supply infrastructure in the US and worldwide, the LNG pathway’s head start increases. Global availability, alongside bio-LNG and e-LNG development, makes LNG the practical and realistic route to maritime decarbonisation.

“All alternative fuels exist on a pathway from grey, fossil-based fuels to green, bio or renewable fuels. Green fuels represent a scarce resource and many have scalability issues, so we must start our net-zero journey today with grey fuels. LNG is the only grey fuel that reduces greenhouse gas emissions, well-to-wake, so you need less green fuel than alternatives to improve emissions performance.”

 

Photo credit: SEA-LNG
Published: 23 February, 2024

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