China’s Sept fuel oil imports rise 6% from August

SINGAPORE/BEIJING: China’s fuel oil imports climbed 6% month-on-month in September, customs data showed on Sunday.

September imports totalled 2.01 million metric tons, or about 260,246 barrels per day, based on data from the General Administration of Customs.

In anticipation of a tax revamp, some refiners accelerated their purchases ahead of its implementation as the revamp will raise costs for imported fuel oil, trade sources said.

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The import volume included purchases under ordinary trade, which are subject to import duty and consumption tax, as well as imports into bonded storage.

Meanwhile, fuel oil export volume for bunkering totalled 1.9 million tons in September, up 30% from August and 30% higher than in the corresponding month last year.

The exports are measured mostly by sales from bonded storage for vessels plying international routes.

The tables below show China’s fuel oil exports and imports in metric tons.

The exports section largely captures China’s low sulphur oil bunkering sales along its coast.