China’s fuel oil imports and bunker exports surged in September, according to the latest customs data released late on Monday.
September’s fuel oil imports totalled 2.02 million tonnes, or about 428,449 barrels per day, reaching their highest monthly volume so far this year. The import volume rose by 39 per cent from August levels and was one per cent higher than in September 2024.
The increase was driven by a rise in bonded storage trade, the data showed. Exports of fuel oil, mostly for low-sulphur marine fuel bunkering, reached a three-month high. Export volumes totalled 2.24 million tonnes, marking a 36 per cent increase from August and a 17 per cent rise year-on-year.
Premiums for low-sulphur marine fuel at Zhoushan, a key Chinese bunker hub, remained firm in September, holding around $20 per tonne above Singapore prices, according to market sources.
(Reporting by Jeslyn Lerh in Singapore; Editing by Sherry Jacob-Phillips)