SINGAPORE, July 20 (Reuters) - China's exports of fuel oil, mainly for marine fuel bunkering, climbed 55% month-on-month in June, customs data showed on Monday, reaching the highest in 2026 so far.
Export volumes totalled 2.73 million metric tons in June, or about 577,000 barrels per day (bpd), up 18% from the same month last year, General Administration of Customs data showed.
The boost in volumes during June brought the first-half 2026 volumes 7.7% higher year-on-year to 10.87 million tons.
Softer prices of low-sulphur marine fuel at key Chinese ports have drawn more demand for refuelling ships, especially in the second half of June, market sources said.
Prices of delivered 0.5% low-sulphur marine fuel were about $50 a metric ton cheaper at Zhoushan and Shanghai ports versus prices at regional Asia bunker hub Singapore, based on data from market sources.
Meanwhile, China's imports of fuel oil in June recovered after slumping to a record low in May, customs data showed.
Imports of fuel oil totalled 982,783 tons in June, up 76% from the previous month, though still 30% lower than June last year.
Demand for fuel oil from refineries for use as a feedstock remained lukewarm as they opted for cheaper crude.
Imports in the first half of 2026 totalled 9.39 million tons, down 3.6% from the same period in 2025.
The table below shows China's fuel oil exports and imports in metric tons. The export section largely captures low-sulphur bunkering sales along China's coast.
The import volumes include purchases under ordinary trade subject to import duties and consumption tax, as well as imports into bonded storage.
|
Exports (2026) |
Bonded storage trade |
m/m % change |
y/y % change |
|
January |
1,522,528 |
-32% |
14% |
|
February |
1,228,998 |
-19% |
-26% |
|
March |
1,930,596 |
57% |
10% |
|
April |
1,697,784 |
-12% |
-4% |
|
May |
1,760,875 |
4% |
42% |
|
June * |
2,726,953 |
55% |
18% |
|
Imports (2026) |
Ordinary trade |
Bonded storage trade |
Total |
m/m % change |
y/y % change |
|
January |
519,321 |
1,249,568 |
1,768,888 |
-26% |
-6% |
|
February |
646,884 |
2,029,477 |
2,676,362 |
51% |
37% |
|
March |
468,879 |
1,958,928 |
2,427,807 |
-9% |
76% |
|
April |
99,199 |
877,400 |
976,599 |
-60% |
-47% |
|
May |
30,031 |
529,315 |
559,346 |
-43% |
-57% |
|
June * |
0 |
982,783 |
982,783 |
76% |
-30% |
(Figures are based on the latest available data at the time of publication and may be subject to revision by China customs at a later date)
(1 metric ton = 6.35 barrels for fuel oil conversion)
Reporting by Jeslyn Lerh in Singapore; Editing by Jamie Freed
Source: Reuters