Asia/Pacific News
Bunkering Excluded From New Chinese Restrictions on Fuel Exports
China's government is attempting to restrict the export of refined products from the country in response to energy-market tightness resulting from the conflict in the Middle East, but is excluding the sale of bunker fuel.
China has asked its refiners to suspend signing new contracts to export refined products and to attempt to cancel shipments already agreed to, news agency Reuters reported on Thursday, citing industry and trade sources.
Bonded bunker fuel sales are excluded from the measure, according to the report, as well as exports to Hong Kong and Macau.
But a halt in Chinese middle distillate exports would be likely to affect VLSFO and MGO prices in Singapore.
VLSFO delivered in Singapore stood at a premium to Brent crude of about $36.50/mt on Wednesday, according to Ship & Bunker pricing, the widest premium since May 2025. Singapore's VLSFO premium over Rotterdam prices stood at $51.50/mt, also the highest level since May 2025.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 658.50 | 18.00 | 1039.50 | 72.00 |
| Rotterdam | 607.00 | 33.50 | 985.50 | 41.00 |
| Houston | 589.00 | 10.00 | 946.50 | 23.50 |
| Fujairah | 672.50 | 43.50 | 1105.00 | 60.50 |
| APAC Average | 700.50 | 49.50 | 997.50 | 75.00 |
| Global 20 Ports Average | 659.00 | 30.00 | 1029.00 | 47.50 |
| Global 4 Ports Average | 631.50 | 26.00 | 1019.00 | 49.00 |
| Global Average Bunker Price | 671.00 | 36.00 | 996.50 | 48.00 |
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