Asia/Pacific News
China: Bonded LSFO Monthly Export Data Shows Rise
Tuesday April 20, 2021
China's exports of low sulfur marine fuel (LSFO) in March rose 57% year on year to the second highest monthly level on record, as demand for the fuel recovered in line with the country's strong exports of general goods, Reuters reports.
March exports reached 1.68 million metric tonnes, extending strong growth seen in the first two months of the year when volumes doubled on an annual basis, the report said citing customs data.
The Chinese government last year started granting tax incentives to prompt production and exports of very low-sulphur fuel oil (VLSFO), with a maximum sulphur content of 0.5% to comply with emission rules imposed by the International Maritime Organization.
