Fuel oil rose 2.13% to 5,418 yuan/tonne; the HSFO-VLSFO spread is widening again on winter bunker restocking. For scrubber-fitted owners, per-voyage fuel savings are back in the range that justifies the retrofit.

Shanghai fuel oil held at ¥5,295/t as bonded VLSFO bunkering demand stayed steady and Zhoushan chased transshipment tonnage. Methanol and LNG are moving into bonded bunkering, intensifying multi-fuel competition against HSFO and reshuffling bonded versus domestic heavy-oil balances.