off-the-wire

China's Jan-Feb low-sulphur marine fuel imports rise 76% y/y

Kitco Media
By Reuters
Published:
Updated:
Reuters
BEIJING, March 20 (Reuters) - China's imports of very-low-sulphur marine fuel in January and February jumped 76% from a year earlier, customs data showed on Monday, after the country lifted its tough COVID-19 restrictions late last year and as domestic demand picked up.


China imported nearly 3 million tonnes of very-low-sulphur fuel oil (VLSFO) in the first two months of the year, measured by combining sales from bonded storage and ordinary trade for vessels plying international routes, data from the General Administration of Customs showed. That compares with 1.69 million tonnes in the same period a year earlier.


Fuel oil exports into bonded storage, including both high-sulphur and low-sulphur products, were down 23% at 2.79 million tonnes from a year-ago period.


The table below shows China's fuel oil imports and exports, all in metric tonnes.


The column of exports under bonded storage trade largely captures China's low-sulphur oil bunkering sales along its coast.
Exports Bonded storage yr/yr %change Jan-Feb


2,791,783 -23.3


Imports Ordinary Bonded Total y/y % trade storage change trade
Jan-Feb



993,631 1,971,609 2,965,240 75.6




(Reporting by Qin Ningwei and Dominique Patton; Editing by Sherry Jacob-Phillips)

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