Asia/Pacific News
China: Annual Bonded Bunker Sales up
Tuesday January 26, 2021
Sales of marine fuel in Chinese ports to international shipping jumped by around 31% in 2020 over sales in the previous year.
According to price reporting agency Argus Media, 4.04 million more metric tonnes of fuel were sold last year.
China's fuel oil production rose by 37% over the period.
Most of that volume was likely supplied to the bunker market in the form of very low sulfur fuel oil, the report said.
A sizeable number of refineries, around 30, are able to produce the low sulfur material.
While the economic growth in the country in 2020 was low at 2.3%, in the context of the global pandemic, this was above analyst expectations.
