Bunker Fuel
JLC China Bunker Market Monthly Report (October 2023)
Country tallied roughly 1.63 million mt of bonded bunker fuel sales in the month, with the daily sales down by 5.74% from September to 52,419 mt, JLC’s data shows.
Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for October 2023 with Manifold Times through an exclusive arrangement:
Bunker Fuel Demand
China’s bonded bunker fuel sales decrease in October
China’s bonded bunker fuel sales decreased further in October, because of tighter supply.
The country tallied roughly 1.63 million mt of bonded bunker fuel sales in the month, with the daily sales down by 5.74% from September to 52,419 mt, JLC’s data shows.
The sales by Chimbusco, Sinopec Zhoushan and SinoBunker slid to 520,000 mt, 580,000 mt and 70,000 mt in the month respectively, while those by China ChangJiang Bunker (Sinopec) stabilized at 35,000 mt. At the same time, enterprises with regional bunkering licenses sold about 420,000 mt of bonded bunker fuel, up from 388,300 mt in September.
China’s bonded bunker fuel sales continued to drop, as low-sulfur fuel oil supply tightened and prices stayed relatively high. Meanwhile, the barging capacity at certain ports was affected by bad weather, which also depressed the sales.
China’s bonded bunker fuel exports inch down in Jan-Sept
China’s bonded bunker fuel exports edged down in the first nine months of this year, mainly because of a decline in domestic low-sulfur fuel oil (LSFO) output.
The country exported about a total of 15.24 million mt of bonded bunker fuel in January-September, a dip of 0.66% from the same months in 2022, JLC estimated, with reference to data from the General Administration of Customs of PRC (GACC).
Among the exports were 14.44 million mt of heavy bunker fuel and 802,600 mt of light bunker fuel, which accounted for 94.73% and 5.27% of the total, respectively.
Regarding the exports by supplier, enterprises with national bunkering licenses exported about 12.15 million mt of bonded bunker fuel in the nine months, accounting for 79.69%, while those with regional bunkering licenses supplied about 3.10 million mt, accounting for 20.31%.
Chinese refiners reduced their bonded bunker fuel exports in the first three quarters of this year, as domestic supply decreased amid falling LSFO production. Refineries lowered their LSFO output in the period when their production enthusiasm was greatly depressed by less considerable margins. The country produced about 11.10 million mt of LSFO in January-September, a cut of 5.45% year on year, JLC’s data shows.
In September alone, China’s bonded bunker fuel exports settled at 1.58 million mt, down by 2.79% from the previous month and 21.13% from a year earlier. Heavy bunker fuel exports amounted to 1.47 million mt, accounting for 92.73% of the total, while light bunker fuel exports stood at 115,200 mt, occupying 7.27%.
Suppliers with national bunkering licenses tallied approximately 1.18 million mt in the month, accounting for 74.23% of the country’s total, with Sinopec Fuel Oil and Chimbusco taking 64.35%. At the same time, enterprises with regional licenses exported about 408,300 mt, accounting for 25.77%.
Domestic-trade bunker fuel demand extends gains in October
Domestic-trade bunker fuel demand extended gains in October, because of post-holiday restocking.
Domestic-trade heavy bunker fuel demand settled at 400,000 mt in the month, rising by 40,000 mt or 12.12% month on month, JLC’s data shows. Some shipowners increased purchases after the holiday for the National Day, as they had run out of stockpiles. Meanwhile, high-sulfur fuel oil prices fell to a relatively low level, which also attracted buyers to make deals.
Domestic-trade light bunker fuel demand surged to 165,000 mt in October, growing by 25,000 mt or 19.23% from a month earlier, the data indicates. Downstream buyers showed higher buying interest when MGO prices rolled back. At the same time, shipping demand at inland ports increased, with coal transportation speeding up amid the heating season in North China.
Bunker Fuel Supply
China boosts its September bonded bunker fuel imports
China boosted its bonded bunker fuel imports month on month in September, as domestic low-sulfur fuel oil (LSFO) output decreased rapidly.
The country tallied about 389,800 mt of bonded bunker fuel imports in the month, surging by 27.18% month on month, JLC estimated, with reference to data from the General Administration of Customs of PRC (GACC).
Domestic refineries slowed down their LSFO production amid bad margins, leading refiners to import more bonded low-sulfur bunker fuel to meet demand. The country produced about 1.17 million mt of LSFO in the month, with the daily output dropping by 5.40% month on month to 39,000 mt, JLC’s data indicates. Meanwhile, some distributors expanded their bonded low-sulfur bunker fuel imports as more unit maintenance and export quota tightness triggered fears of a further decline in LSFO output in the fourth quarter.
Imports of high-sulfur bunker fuel and marine gas oil (MGO) largely stabilized at a normal level.
Russia surpassed Malaysia and became the largest supplier by shipping 214,000 mt of bonded bunker fuel to China, accounting for 54.9% of China’s total imports. Malaysia slipped to the second place with 61,800 mt, accounting for 15.9%, while Singapore ranked third with 60,900 mt, occupying 15.6%. Shipments from South Korea were reduced to only 53,100 mt, accounting for 13.6% and bringing the country to the fourth place.
On a year-on-year comparison, however, China’s bonded bunker fuel imports fell by 8.90%.
China’s bonded bunker fuel imports totaled 2.88 million mt in the first nine months of this year, plunging by 19.18% from the corresponding months in 2022, decelerating from a 20.58% slump in January-August.
Domestic-trade bunker fuel supply continues to grow in October
Domestic-trade bunker fuel supply continued to grow in October, as blenders boosted production when their blending margins for bunker fuel were widened by a drop in blendstock prices.
Chinese blenders supplied about 450,000 mt of domestic-trade heavy bunker fuel in the month, a boost of 60,000 mt or 16.22% month on month, JLC’s data indicates.
Similarly, refineries ramped up their light bunker fuel production amid relatively fair margins. Domestic-trade marine gas oil (MGO) supply rose to 180,000 mt in October, an uplift of 20,000 mt or 11.76% from September.
Bunker Prices, Profits
Editor
Yvette Luo
+86-020-38834382
[email protected]
Sales (Beijing)
Tony Tang
+86-10-84428863
[email protected]
Sales (Singapore)
Ginny Teo
+65-31571254
[email protected]
[email protected]
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.
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 Fuel Market Monthly Report (September 2023)
Related: JLC China Bunker Market Monthly Report (August 2023)
Related: JLC China Bunker Market Monthly Report (July 2023)
Related: JLC China Bunker Market Monthly Report (June 2023)
Related: JLC China Bunker Fuel Market Monthly Report (May 2023)
Related: JLC China Bunker Market Monthly Report (March 2023)
Related: JLC China Bunker Market Monthly Report (February 2023)
Related: JLC China Bunker Market Monthly Report (January 2023)
Related: JLC China Bunker Market Monthly Report (December 2022)
Related: JLC China Bunker Market Monthly Report (November 2022)
Related: JLC China Bunker Market Monthly Report (October 2022)
Related: JLC China Bunker Market Monthly Report (September 2022)
Related: JLC China Bunker Market Monthly Report (August 2022)
Related: JLC China Bunker Market Monthly Report (July 2022)
Related: JLC China Bunker Market Monthly Report (June 2022)
Related: JLC China Bunker Market Monthly Report (May 2022)
Related: JLC China Bunker Market Monthly Report (April 2022)
Related: JLC China Bunker Market Monthly Report (March 2022)
Related: JLC China Bunker Market Monthly Report (February 2022)
Related: JLC China Bunker Market Monthly Report (January 2022)
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 that period is available here.
Photo credit: JLC Network Technology
Published: 10 November, 2023
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.
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.
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.
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.”
Photo credit: DNV
Published: 4 September, 2026
OUR INDUSTRY PARTNERS
Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean
LR, China’s MARIC unveil tanker concept ready for three future bunker fuels
DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024
TFG Marine advances global MFM rollout with two US Gulf bunker barges
GENA Solutions: Total renewable and low-carbon methanol project pipeline increases from 61.8 to 62.2 Mt by 2032
Baltic Exchange: Bunker Report (3 September 2026)
ENGINE: Americas Fuel Availability Outlook (3 September 2026)
Singapore-flagged tugboat “Kim Heng 3203” placed under Sheriff’s arrest
US targets five bunker companies in latest sanctions campaign against Iran
Singapore bunkering community supports Living Hope Evangelism’s 7th anniversary outreach for residents in need
China’s bunker market reshaped by tax rebates, trade flows and refining changes, says economist
Hengli Petrochemical’s ex-Singapore trading arm faces winding up application
Report: GCMD outlines practical approach to quantity assurance in marine biofuel supply chains
Singapore: Notices of intended dividend issued for Ocean Bunkering Services, Hin Leong Marine
-
Vessel Arrest1 week agoSingapore-flagged tugboat “Kim Heng 3203” placed under Sheriff’s arrest
-
Sanctions1 week agoUS targets five bunker companies in latest sanctions campaign against Iran
-
Events2 weeks agoSingapore bunkering community supports Living Hope Evangelism’s 7th anniversary outreach for residents in need
-
Interview1 week agoChina’s bunker market reshaped by tax rebates, trade flows and refining changes, says economist
-
Winding up1 week agoHengli Petrochemical’s ex-Singapore trading arm faces winding up application
-
Biofuel1 week agoReport: GCMD outlines practical approach to quantity assurance in marine biofuel supply chains
-
Winding up2 weeks agoSingapore: Notices of intended dividend issued for Ocean Bunkering Services, Hin Leong Marine
-
Bunker Claim3 days agoRajah & Tann: Bunker disputes are won in the first 48 hours