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Mon 18 Feb 2013, 07:57 GMT

Fuel oil imports set to rise in South China


Imports of fuel oil into South China could increase by 80,000 tonnes in February, according to estimates.

Imports of fuel oil into South China may rise by 80,000 tonnes this month, according to publishing firm ICIS.

South China's monthly fuel oil imports in February are currently estimated at 190,000 tonnes - a figure that would represent an increase of 73 percent on January.

The majority of the imported fuel oil product - 155,000 tonnes - is said to have been purchased from Singapore, whilst 35,000 tonnes of fuel oil are reported to have been bought from the United States. According to ICIS, this is the first time that China has imported fuel oil from the United States.

Sinopec Fuel Oil Sales Corporation Ltd. - a wholly owned subsidiary of China Petroleum and Chemical Corporation (Sinopec Ltd.) - imported 25,000 tonnes of fuel oil from Singapore to Guangdong in early February and 30,000 tonnes to Fujian in mid-February, ICIS said.

In a breakdown of imports by port, Shenzhen is expected to import 80,000 tonnes of fuel oil this month, whilst Huangpu could import as much as 70,000 tonnes. Imports of fuel oil into Fujian, Hainan and Guangxi may reach 30,000 tonnes, whilst Zhuhai may import up to 10,000 tonnes, the import summary said.

As a result of the high import figures in February, fuel oil imports are expected to decline in March, according to industry sources.

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