East China was estimated to import 320,000-330,000mt of fuel oil in February, sharply down about 29.3% or 135,000mt from the estimate for January, C1's shipping schedule shows.
The decline was mainly because of high stockpiles after large rise in January imports before the holiday for the Chinese New Year, C1 found.
About 230,000-240,000mt of the estimated imports were for Zhejiang, 50,000mt for Shanghai, 40,000mt for Jiangsu, the shipping schedule indicates.
By source, East China's fuel oil imports in February were estimated as follows- about 100,000mt from South Korea, 90,000-100,000mt from Singapore, 50,000mt from other countries in Southeast Asia, 80,000mt from Venezuela.
East China's fuel oil imports are expected to slip further in March, as this region still holds relatively high stockpiles and import costs are high amid strong international crude prices.
