East China fuel oil import forecast

Fuel oil imports into China are expected to decline in February, according to market data.



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Updated on 17 Feb 2014 08:02 GMT

Fuel oil imports into East China are expected to decrease during the month of February, information service ICIS reports.

According to the data, East China is forecast to import 250,000-300,000 tonnes of fuel oil this month, representing a decline of 50,000 tonnes, or 15 percent, compared to January.

The decrease is attributed primarily to the bonded bunker market being sluggish in February as shipping demand fell amid few commodity transactions during the Lunar New Year holiday.

Of the imports, around 150,000 to 170,000 tonnes are expected to be from Venezuela, 100,000 tonnes from Europe and 10,000-20,000 tonnes from Singapore.

Meanwhile, Zhejiang province is forecast to import 250,000-270,000 tonnes of fuel oil this month and Jiangsu could import around 10,000-20,000 tonnes, ICIS said.