China has started exporting VLSFO this year. File Image / Pixabay
Exports of very low sulfur fuel oil (VLSFO) from China dropped significantly last month, according to news agency Reuters, in signs of a continuing impact of the COVID-19 pandemic on global shipping demand.
China's VLSFO exports dropped to 1.14 million mt in May, down by 20% from the previous month's level of 1.43 million mt, Reuters reported Friday, citing customs data.
Exports have totaled 5.2 million mt so far this year.
Bunker demand across the world has continued to decline over the second quarter of this year.
In Singapore total bunker demand dropped by 4.6% from April's level to 3.92 million mt in May, according to preliminary data released earlier this month.