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China to Lift Bonded Jet Fuel Refuelling in 2024: Platts

JET FUEL

China is set to increase its bonded jet fuel refuelling at international airports amid a rise in overseas flights in 2024, according to Platts.

  • Domestically produced jet fuel barrels for bonded bunkering into international flights are classed as exports by Chinese customs and are thus subject to export quotas, Platts said.
  • This could put limits on exports of other products such as gasoline and gasoil unless the government raises the export cap in 2024. It had initially been assumed the cap would be unchanged on 2023 levels.
  • Chinese product exporters are expected to gradually raise jet fuel exports in Q1, including for bonded refuelling and for direct shipment overseas.
  • With the removal of covid travel restrictions and visa relaxation for some nationalities, bonded jet fuel bunkering is set for a year-on-year rise.
  • China’s bonded jet fuel bunkering in 2023 was 3.56m mt, Platts said. Jet fuel exports were 11.92m mt.
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