The Bohai Bay (Shandong, North China and Northeast China) is likely to import 0.95-1.00-mil mt of fuel oil in September, flat to the estimate for August, C1's shipping schedules show.
Local independent refineries still showed weak interest in buying imported fuel oil in late August and early September, because of poor refining margins, said market sources.
Among these forecast imports for September, 700,000-730,000mt is for Shandong, roughly 200,000mt for Tianjin in North China, 20,000-30,000mt for Northeast China.
By source, Bohai Bay's fuel oil imports in September are forecast as follows-about 250,000mt from Southeast Asia, 180,000-190,000mt from Singapore and Venezuela, respectively, 150,000-180,000mt from Russia, roughly 100,000mt from Kazakhstan and 80,000mt from South Korea.
