China's October exports of fuel oil, mostly for low-sulphur marine fuel bunkering, fell to their lowest monthly volume this year, customs data showed on Thursday.
October export volumes were at 1.23 million tonnes, down 45 per cent from September, but up two per cent year-on-year. Premiums for low-sulphur marine fuel at key Chinese bunker port, Zhoushan, held at more than $20 a tonne over Singapore bunker prices in October, according to market sources.
Amid higher price premiums for China marine fuel, some demand diverted to regional hub Singapore, which saw a monthly increase in sales for October. Meanwhile, October fuel oil imports into China fell seven per cent from a month earlier after hitting a year-to-date high in September.
Fuel oil imports totalled 1.87 million tonnes, or about 384,000 barrels per day (bpd), last month. The import volume was down nine per cent from levels seen in October 2024.
(Reporting by Jeslyn Lerh in Singapore; Editing by Eileen Soreng)
