China Fuel Oil Export Volume Saw 38% Hike in Aug
State-owned refineries’ average operating rate continued rising in the month, so the domestic supply of LSFO remained at a high level. And the global trading business and the shipping industry are recovering. Therefore, China’s fuel oil export volume increased slightly in the month. China’s fuel oil exports are mainly via the bonded bunker fuel bunkering at ports. In August, the fuel oil export volume in Zhejiang Province was 989.4kt, covering 59.8% of China’s total exports.
Meanwhile, China also imported 784.4kt of fuel oil in August, up 166kt or 26.83% from July. And in the first eight months of this year, China’s fuel oil import volume was 9,311.5kt, down 6.4% from the same period of last year. In August, Malaysia, Singapore and Russia were the first three fuel oil suppliers for China in terms of supply volume. China imported 647.1kt of fuel oil in August, up 214.6kr or 49.62% from July.
