China's exports of very-low-sulphur marine fuel rebounded 13.22% in July versus June as the country's merchandise exports recovered, but still stood nearly 9.69% below the year-ago level, customs data showed on Saturday.
Exports of very-low-sulphur fuel oil , measured mostly by sales from China's bonded storage for vessels plying international routes, were 1.60 million tonnes, data from the General Administration of Customs showed.
That compared to 1.408 million tonnes in June and 1.766 million tonnes a year before. China's merchandise exports in July grew 18% on the year in the fastest pace this year, an encouraging boost to the economy as its struggles to recover from a COVID-induced slump, but weakening global demand could start to drag on shipments in coming months.Foreign trade container throughput at eight major Chinese ports rose 14.5% in July, speeding up from the 8.
Fuel oil imports into bonded storage, including both high-sulphur and low-sulphur products, fell nearly 57.96% on the year to 0.31 million tonnes.The column of exports under bonded storage trade largely captures China's low-sulphur oil bunkering sales along its coast.Reporting by Beijing newsroom; Editing by Sam Holmes
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