In International Shipping News 15/06/2018
Japan sold 2.46 million barrels of bonded bunker fuel in April, down 6.6% from March and up 10.7% year on year, according to data released afternoon by the Ministry of Economy, Trade and Industry.
Sales volumes for April have eased back from the 16-month high of 2.64 million barrels in March.
In mid-March, according to a source close to JXTG Nippon Oil & Energy, Japan was experiencing strong bunker demand, so much so that the refiner had to temporarily stop accepting fresh bunker fuel orders at its Mizushima plant in western Japan until the end of March.
Meanwhile, METI data released Thursday showed that Japan’s bonded marine diesel oil segment recorded a decline in sales for the second consecutive month, with volumes falling 5.5% from March to 9,688 kiloliters in April, or 60,938 barrels. While March’s sales volumes had touched a nine-month low, the further decline in sales for April has now deepened the fall to a 2-year and 9-month low. METI historical data showed that bonded MDO sales were last lower in July 2015, at 8,276 kl, or 52,056 barrels. Year on year, marine diesel oil sales in April were down 15%.
METI statistics also showed that there were no imports of bonded bunker fuel oil in March. Japan last imported bonded bunker fuel oil in June 2017, when 5,063 kl, or 31,845 barrels, were brought in.
Bonded bunker fuel is exempt from import tax and can be sold only to ships plying international routes.
Source: Platts
