Business

JLC China Bunker Oil Market Monthly Report (May, 2020)

Singapore bunker fuel market was hit by the bankruptcy of Hin Leong Trading in May and some traders shifted focus to Chinese ports, adding to high bunker demand.

Published

5 years ago

June 12, 2020

Admin

JLC May Bonded Bunker Fuel Sales in ZhouShan

Beijing-based commodity market information provider JLC Network Technology Co. on Thursday (11 June) shared its JLC China Bunker monthly report for May with Manifold Times through an exclusive arrangement:

JLC China Bunker Market Monthly Report (May, 2020)
Highlights

Demand and Supply

Bunker Oil Demand

Bonded bunker fuel sales stay high in May on improving demand

In May, China’s bonded bunker fuel sales were about 1.45 million mt, JLC data showed. The bonded bunker fuel demand was buoyed by recovering shipping demand and advantageous prices. Countries took actions to shore up economy upon easing COVID-19 in May. More ships were incentivized to refuel at Chinese ports amid low prices of low-sulfur bunker fuel supplied by domestic refiners. In addition, bunker fuel markets in Singapore were hit by the bankruptcy of Hin Leong Trading and some traders shifted focus to Chinese ports for bunker fuel oil consumption. As a result, sales of bonded bunker fuel in May stayed high. Chimbusco and Sinopec sold about 525,000 mt and 678,000 mt of bonded bunker fuel, respectively. New enterprises in the China (Zhejiang) Pilot Free Trade Zone sold 136,000 mt. Bonded bunker fuel sales were about 79,000 mt for China ChangJiang Bunker (Sinopec) and 42,000 mt for SinoBunker.

China’s bonded bunker fuel sales surged to 1.56 million mt in April, up by 41.26%% month on month and up by 56.11% year on year, according to GAC data. Major Chinese ports saw low-sulfur bunker fuel prices equivalent to or lower than those in Singapore amid domestic mass production and short distance of supply. With more shares in the market, China’s bonded bunker fuel sales went up in April. PetroChina ramped up exports of low-sulfur bunker fuel oil by direct supply from its refineries, and thus topped Chimbusco in bonded bunker fuel sales, ranking the first. Specifically, bonded bunker fuel sales were 544,600 mt for Chimbusco, 70,400 mt for Sinopec, 75,500 mt for China ChangJiang Bunker (Sinopec), 40,500 mt for SinoBunker and 130,000 mt for new enterprises in the China (Zhejiang) Pilot Free Trade Zone.

Domestic bunker fuel demand grows in May

Domestic bunker fuel demand rose in May. With temperature rising and coronavirus-related protection loosened, bulk demand continued to rally, among which demand for coal, metal ore and grain recovered markedly. Freight capacity was tight in some routes. End-users who shut down their operation before began to purchase bunker fuel. Driven by improving coastal transport demand, bunker fuel demand went up. The demand for domestic-trade heavy bunker fuel was about 300,000 mt in the month, up by 40,000 mt or 15.38% from the previous month. The demand for light bunker fuel was 105,000 mt in May, up by 20,000 mt from April on rising demand amid stable trades when fishers made purchases mainly based on needs.

Bunker Oil Supply

Bonded bunker fuel imports rise 37.76% in April

China’s bonded bunker fuel imports were 1,029,400 mt in April, a rise of 37.76% month on month and a drop of 22.43% year on year, GAC data showed. Bonded bunker fuel traders stocked up amid low prices resulted from the collapse of international crude and high inventories at some ports in April. Driven by large purchases, China’s bonded bunker fuel imports were higher in April than the previous month.

Specifically, the largest import source for China was Malaysia with 529,000 mt of bunker fuel, followed by South Korea with 179,000 mt. The imports were 178,500 mt from Singapore and 60,000 mt from Japan. Besides, there were imports of 37,500 mt and 44,000 mt from Russia and Indonesia, respectively.

Domestic blended bunker fuel supply grows in May

Chinese blended producers supplied a total of around 330,000 mt of heavy bunker fuel in May, a rise of 30,000 mt or 10% month on month, JLC data showed. With the effective control of COVID-19 in May, coastal bulk demand turned better along with a gradual recovery of the economy. Meanwhile, Some blended producers made more purchases when blended costs rebounded. However, blended producers in Northeast China halted operation on a lack of fuel oil invoices. Therefore, domestic trade bunker fuel supply was still below the normal level of last year, despite a month-on-month rise. Light bunker fuel supply was about 110,000 mt, up by 10,000 mt from April. Despite the surge of international crude prices, the improvement in light bunker fuel supply was not significant due to lackluster fisher demand.

JLC May Arrical of Imported Fuel Oil Cargoes

Bunker Profits, Prices

Domestic Bunker Price by Region 2020

JLC May China Bonded Bunker Fuel Prices 2019 2020

JLC May China BUnnker Blendinng Profit by region 2019 2020

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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.

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Published: 12 June, 2020

Business

Singapore: Ang Wee Keong from IMDA appointed as new MPA Chief Executive

Ang will relinquish his IMDA appointment as Assistant Chief Executive (International) of the Info-Communications and will officially take over from Teo Eng Dih from 16 June.

Published

7 hours ago

April 30, 2025

Admin

Singapore: Ang Wee Keong from IMDA appointed as new MPA Chief Executive

Singapore’s Ministry of Transport on Tuesday (29 April) said Mr Ang Wee Keong, currently the Assistant Chief Executive (International) of the Info-Communications Media Development Authority (IMDA), will concurrently be appointed as Chief Executive (Designate) of the Maritime and Port Authority (MPA) from 1 May to 15 June 2025.

He will relinquish his IMDA appointment and be appointed Chief Executive of MPA from 16 June 2025. He will succeed Mr Teo Eng Dih, who will be appointed Deputy Secretary (Special Duties) at the Ministry of Transport with effect from 16 June.

Mr Teo will remain as a member of the MPA Board until he steps down as CE MPA. Mr Ang will be appointed as a board member with effect from 16 June 2025.

“The Ministry of Transport thanks Mr Teo Eng Dih for his leadership and contributions as Chief Executive of MPA, and welcomes Mr Ang Wee Keong,” the ministry added.

Mr Teo Eng Dih (张英智)

As the Chief Executive of the MPA, Mr Teo made significant contributions to grow Singapore’s International Maritime Centre and the PIER71TM startup ecosystem. During his tenure, the Port of Singapore attained new records in vessel arrivals, container throughput, bunker sales and registrations under the Singapore Registry of Ships. MPA was also recognised as one of the key global regulators by Lloyd’s List. These milestones were reached amidst a complex global operating environment marked by geopolitical uncertainties, supply chain disruptions and technological shifts affecting the flow of goods and supplies worldwide.

Mr Ang Wee Keong (洪伟强)

As the Assistant Chief Executive (International) of IMDA, Mr Ang made significant contributions in advancing Singapore’s digital interests and thought leadership in the international arena. He strengthened Singapore’s network of digital economy partnerships, and expanded collaboration through platforms like the ASEAN Digital Ministers’ Meeting, Forum of Small States and Asia Tech x Singapore (ATxSG). He also oversaw the formulation of forward-thinking policies and regulations in digital technology and services to advance the growth of Singapore’s digital economy, including the upcoming Digital Infrastructure Act to enhance the resilience and security of systemically important digital infrastructure.

Photo credit: Singapore Polytechnic
Published: 30 April, 2025

Technology

TFG Marine to launch of ZeroNorth e-BDNs at Port of Sohar after Singapore success

Kenneth Dam announced the successful trial and imminent roll-out of ZeroNorth’s electronic bunker delivery note solution for its customers in the Port of Sohar, in Oman.

Published

8 hours ago

April 30, 2025

Admin

TFG Marine to launch ZeroNorth e-BDNs at Port of Sohar after success in Singapore

Global marine fuel supply and procurement firm TFG Marine on Tuesday (29 April) announced the company’s successful trial and imminent roll-out of ZeroNorth’s electronic bunker delivery note (e-BDN) solution for its customers in the Port of Sohar, in Oman.

A first for the Middle East region following the successful deployment of the same technology earlier this year by TFG Marine at the Port of Singapore. The eBDN trial in Oman was completed in collaboration with ZeroNorth and SGTraDex, using the Singapore standards as a benchmark.

Kenneth Dam, Global Head of Bunkering, said: "We’re excited to partner with ZeroNorth, Fratelli Cosulich Group Bunkers, SGTraDex and SOHAR Port and Freezone to shortly introduce e-BDNs to our customers here in Oman.”

“This technology, that we have already successfully introduced in Singapore is yet another step in modernising our industry. It will streamline the bunker delivery process, cut administrative burdens, enhance digital documentation and help build a smarter, more connected bunkering sector.”

“We remain committed to establishing e-BDNs as a global standard for bunker fuel delivery and will continue to work closely with port authorities to advocate for and deploy this technology across our operations.”

Dam made the announcement at the Oman Maritime, Ports and Energy Forum, during the panel discussion on The Transformative Power of Data: The Evolving Role of Digitalisation in Shipping and Bunkering.

Dam added the fully digital solution — accessible through TFG Marine’s mobile app and integrated with SGTraDex’s digital infrastructure, — will enable the inclusion of additional data, such as mass flow meter readings during fuel deliveries.

“By integrating this technology, we will drive significant improvements in efficiency, accuracy, compliance, and sustainability across our operations, complementing the global mass flow meter rollout across our fleet and reinforcing TFG Marine’s position at the forefront of the modern bunkering industry,” he said.

Manifold Times previously reported TFG Marine announcing the introduction of ZeroNorth’s e-BDNs for its customers in Singapore during 23rd Singapore International Bunkering Conference (SIBCON) by the end of 2024.

In November last year, TFG Marine announced its first digitalised marine fuel delivery in Singapore using electronic bunker delivery notes (e-BDNs).

Its team supplied VLSFO bunker fuel to Pacific Basin Shipping Limited’s Illovo River bulk carrier, marking the first of four bunkering deliveries that month where this new technology was successfully deployed.

Photo credit: TFG Marine
Published: 30 April, 2025

Biofuel

Hercules Tanker Management vessel “Mount Kibo” takes on B30 bio bunker fuel

HTM said its tanker was successfully supplied with B30 bunkers by tanker “Hercules Sky”, another HTM-owned vessel and operated by Peninsula, marking the first biofuel supply to the HTM fleet.

Published

8 hours ago

April 30, 2025

Admin

Hercules Tanker Management vessel “Mount Kibo” takes on B30 bio bunker fuel

Hercules Tanker Management (HTM) on Tuesday (29 April) announced that its tanker Mount Kibo has been successfully supplied with B30 bunkers by tanker Hercules Sky, another HTM-owned vessel which is operated by Peninsula.

The operation marked the first biofuel supply to the HTM fleet.

HTM is the shipping venture launched last September by John A. Bassadone, founder and CEO of independent marine fuel supplier Peninsula.

HTM said the operation carried out in the Strait of Gibraltar aligns with the recent discussions at MEPC 83, where key decisions were made to advance maritime decarbonisation, including new fuel standards and a global pricing mechanism for emissions.

“Additionally, this initiative supports the objectives of the FuelEU Maritime Regulation, which promotes the use of renewable, low-carbon fuels and clean energy technologies for ships,” it said.

“By utilising biofuels, we are contributing to the reduction of greenhouse gas emissions and supporting the industry's transition towards cleaner energy solutions.”

Photo credit: Hercules Tanker Management
Published: 30 April, 2025