Business

JLC China Bunker Market Monthly Report (October 2021)

China’s bonded bunker fuel sales dropped to 1.77 mln mt in October, down by 0.03 mln mt from the previous month, JLC data showed.

Published

5 years ago

November 12, 2021

Admin

Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for October 2021 with Manifold Times through an exclusive arrangement:

Bunker Fuel Demand

Bonded bunker fuel sales slip in October

China’s bonded bunker fuel sales dropped to 1.77 mln mt in October, down by 0.03 mln mt from the previous month, JLC data showed. The demand from the shipping sector was stable. Downstream buyers were in a bullish sentiment amid the increasing bonded bunker fuel prices. However, some orders in east China was cancelled because of the influence of the typhoon. Chimbusco and Sinopec sold about 760,000 mt and 755,000 mt of bonded bunker fuel, respectively. Bonded bunker fuel sales were about 70,000 mt for SinoBunker and 30,000 mt for China ChangJiang Bunker (Sinopec). New enterprises in the China (Zhejiang) Pilot Free Trade Zone sold 152,000 mt.

China’s bonded bunker fuel exports slipped significantly in September. For one thing, the congestion at some ports pulled down the bunkering efficiency. For another, Sinopec cut its LSFO production, which reduced the resources at the bonded warehouse. China exported 1.45 million mt of heavy bunker fuel and 93,200 mt of light bunker fuel in September.

Bonded bunker sales for state-owned enterprises and Zhoushan enterprises were 1.39 mln mt and 158,000 mt, accounting for 89.79% and 10.21%. Specifically, bonded bunker fuel sales were 658,200 mt for Sinopec, 609,200 mt for Chimbusco, 93,800 mt for SinoBunker, 27,600 mt for China ChangJiang Bunker (Sinopec).

JLC

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Domestic bunker fuel demand slides in October

Domestic bunker fuel demand slipped in October amid high crude oil prices. The trading price of bunker fuel hit a three year high under the support of high costs. Downstream buyers had limited acceptance ability. End users’ consumption of domestic-trade heavy bunker fuel was about 330,000 mt in the month, down by 10,000 mt from September. The shipping demand fell as many shipowners stocked up coal for lower prices. The demand for light bunker fuel was 130,000 mt in October, down by 10,000 mt from the previous month.

Bunker Fuel Supply

Bonded bunker fuel imports drop in September

China’s bonded bunker fuel imports were 577,900 mt in September, down by 26.7% month on month and 18.27% year on year, GAC data showed.

China’s bonded bunker fuel imports declined sharply in September. For one thing, traders maintained high inventories as they stocked up bonded bunker fuel before. For another, the congestion at some ports in east China pulled down the bunkering efficiency, which limited the overall sales.

Specifically, Malaysia was still the largest supplier by exporting 449,300 mt of bunker fuel to China. Imports from Iraq, Singapore and South Korea were 43,700 mt, 39,900 mt and 37,800 mt respectively. The rest came from Russia and Hong Kong.

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Domestic blended bunker fuel supply falls in October

Chinese blending producers supplied a total of around 330,000 mt of heavy bunker fuel in October, down by 20,000 mt or 5.71% from September, JLC data showed. Low-sulfur residue oil supply was still tight in October, even though refiners in east and south China resumed sales. Shale oil supply and trading volume declined. At the same time, the supply of coking feedstocks was short despite their high prices. Domestic light oil supply was about 120,000 mt in October, down by 20,000 mt from the previous month.

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Bunker Prices, Profits

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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.

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Published: 12 November, 2021

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

16 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

16 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

16 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026