China: Fuel oil imports fall, exports rise

Fri 24 Jan 2014, 20:56 GMT

China: Fuel oil imports fall, exports rise

Imports of fuel oil declined by 16% whilst exports rose by 19% in December, industry data shows.

Fuel oil imports into China declined by 16 percent month-on-month and 54 percent year-on-year during the month of December, according to data released by the General Administration of Customs.

In total, China imported 1.2 million tonnes of fuel oil last month. The decrease was attributed to Sinopec not shipping large volumes of fuel oil to Hainan in December, because local stocks were high.

In addition, bonded bunker fuel oil sales in eastern China were said to have been sluggish, which in turn resulted in a drop in fuel oil imports.

Meanwhile, fuel oil exports out of China amounted to approximately 1.13 million tonnes. The figure was 19 higher than the previous month. According to industry sources, exports from northern China jumped after local fuel oil inventories were replenished.

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