China's Exports of Very Low-sulfur Marine Fuel Rise 31%

Tuesday, July 20, 2021

China's exports of very low-sulfur fuel oil (VLSFO) rose 31.2% in June from a year earlier to 1.66 million tonnes, General Administration of Customs data showed on Tuesday, as attractive prices drew clients from other bunker hubs. 

In the first half of 2021 exports of VLSFO, which has a maximum sulfur content of 0.5% to comply with emission rules set by the International Maritime Organization (IMO), jumped 52.1% to 9.81 million tonnes. 

China's VLSFO production capacity reached around 20 million tonnes per annum as of the end of June, up 53% from the same period last year, according to data tracked by China-based Longzhong consultancy. 

The data provider also estimates China's VLSFO output at 5.5 million tonnes in the first six months this year, up 60% on a year earlier. The expansion of production helped lower prices of Chinese bunker fuel and boosted its market share in the region. 

The average premium of the Zhoushan-delivered marine fuel to the Singapore delivered grade was about $1 per tonne in the first half of 2021, compared with $16 per tonne in January-June last year. 

Customs data on Tuesday also showed that 746,922 tonnes of fuel oil, including both high-sulfur and low-sulfur products, were brought into bonded storage in June. Total imports were down 34.4% on the year to 998,390 tonnes.  

Categories: Fuel VLSFO

Related Stories

ADNOC Secures LNG Supply Deal with India's BPCL

Japan's Mitsui Eyes Alaska LNG Project

European LNG Imports Up with Asian Influx

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

Saipem’s Castorone Vessel on Its Way to Türkiye’s Largest Gas Field

Vestas Lands First 15MW Offshore Wind Turbine Order in Asia Pacific

Offshore Drilling 2025: 3 Things to Watch During a Year of Market Corrections

Subsea Redesign Underway for Floating Offshore Wind

ABS Approves Hanwha Ocean’s FPSO Design

Floating LNG Conversion Job Slips Out of Seatrium’s Hands

Current News

Fire at Petronas Gas Pipeline in Malaysia Sends 63 to Hospital

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Keel Laying for Wind Flyer Trimaran Crew Boat

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com