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SunSirs: China Domestic Ship Fuel Market Fluctuated and Declined in July
August 06 2025 09:07:11SunSirs(Selena)

According to the commodity analysis system of SunSirs, the domestic ship fuel market in East China experienced a fluctuating downward trend in July. As of July 31st, the average price of domestic fuel oil at 180CST was 5,312.50 RMB/ton, a decrease of 2.3% from 5,437.50 RMB/ton on July 1st.

The overall downward trend in the domestic fuel oil price of 180CST in July, coupled with the volatile international crude oil market in July, has increased the wait-and-see sentiment in the domestic ship fuel market; Downstream shipping market suppliers mainly consume inventory, with limited support for terminal demand. Shipowners are cautious in their operations, and small transactions are mainly driven by essential needs. According to SunSirs, as of July 31st, the self extracted low sulfur quotation for 180cst fuel oil in Dalian area of China National Fuel Oil Corporation is 5,470 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,570 RMB/ton; The self extracted low sulfur quotation for 180cst fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,100 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,200 RMB/ton.

The crude oil market fluctuated and rose in July. In mid to early July, OPEC+ released its annual world oil outlook and lowered its energy demand expectations, putting pressure on oil prices. In addition, the geopolitical situation in the Middle East has led to increased sanctions against Russia by the United States. Starting from August 1st, the United States will impose a 30% tariff on most imported goods from the European Union and Mexico, causing fluctuations in the international crude oil market; In late July, the United States and the European Union reached a new trade agreement, and the United States may impose new sanctions on Russia. Additionally, concerns about US tariffs continue to weaken, and crude oil prices continue to rise.

In terms of international fuel oil, it is reported that the Singapore Enterprise Development Board (ESG): as of the week ending July 30th, Singapore's fuel oil inventories rose by 969,000 barrels, reaching a three week high of 24.668 million barrels; Singapore's residual fuel oil inventory increased by 4.1% to 24.668 million barrels, reaching a new high in nearly three weeks.

The international crude oil market is expected to decline in August, which will increase the wait-and-see sentiment in the domestic ship and fuel market. Domestic mixed raw material trading is light, and the supply of ships and shipping markets are mainly driven by urgent needs. Market operations are cautious, and the wait-and-see sentiment is strong. As of August 5th, the self extracted low sulfur quotation for 180cst fuel oil is 5,100-5,500 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,200-5,600 RMB/ton. It is expected that the fuel oil 180CST market will experience weak consolidation in the near future.

 

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