China's bunker fuel exports for ships fell in August to a near two-year low, per customs data reported by Reuters Sunday. Total August exports were 1.22 million metric tons (approx. 250,773 bpd), down 34% from July and 25% year-on-year. This marks
the lowest since October 2024. Market sources linked the drop to adverse weather affecting bunkering in Zhoushan, China's main hub. Still, low-sulfur bunker fuel prices in Chinese ports stayed below Singapore's, a key regional center. Conversely, China's fuel oil imports (for refineries/blending)
rose to 1.3 million tons in August, up 15% monthly but down 11% annually. Buying sentiment for fuel oil improved in Q3 over Q2 but remained constrained. Independent refineries still hold unutilized crude oil import quotas. China's crude oil processing also increased
for a second August month, boosted by refined fuel exports after Beijing eased restrictions mid-July.
