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

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

Sapura Energy Rebrands to Vantris Energy

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

Santos and QatarEnergy Agree Mid-Term LNG Supply

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Current News

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

Sapura Energy Rebrands to Vantris Energy

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

CNOOC Brings New Offshore Gas Field On Stream

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

PTTEP Buys Chevron's Hess Unit Share of Southeast Asia’s Offshore Block for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

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