LogIn LogOut

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

July 20, 2021

© Igor Groshev  Adobe Stock
© Igor Groshev Adobe Stock

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


Current News

PHOTO: Offshore Wind Blade for MingYang's 11MW Turbine Rolls of Production Line

PHOTO: Offshore Wind Blade for MingYang's 11MW Turbine Rolls of Production Line

Petrofac Brings Online East Cendor Offshore Field in Malaysia

Petrofac Brings Online East Cendor Offshore Field in Malaysia

Pharos Wraps Seismic Survey Off Vietnam. Eyes Drilling Partner

Pharos Wraps Seismic Survey Off Vietnam. Eyes Drilling Partner

Kent Acquires Majority of SNC-Lavalin's Oil and Gas Business

Kent Acquires Majority of SNC-Lavalin's Oil and Gas Business

Singapore LNG Wants to Extract Chemicals from LNG

Singapore LNG Wants to Extract Chemicals from LNG

Siem Offshore's Anchor Handler Secures Charter Extension in Australia

Siem Offshore's Anchor Handler Secures Charter Extension in Australia

Shell, Petronas Carigali, Petros Get Hold of Offshore Block in Sarawak, Malaysia

Shell, Petronas Carigali, Petros Get Hold of Offshore Block in Sarawak, Malaysia

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