China: Dongying Port approved to conduct bonded bunkering operations

Dongying Port in China can now officially carry out bonded bunkering operations, according to the Dongying Port Economic Development Area on Tuesday (30 July). 

This comes after Jinan Customs approved the establishment of a bonded bunker fuel oil warehouse for Shandong Dongying Gangkun Energy Technology Co., Ltd.

The approval also marked the first time that Jinan Customs has approved the development of bonded bunkering for the port.

It is expected that with the official commissioning of three 100,000 metric tonnes (mt) of liquefied terminal in Dongying Port and other upcoming projects, the number of foreign ships berthing at Dongying Port will be greatly increased and the demand for bonded bunkering for ships will reach more than 1 million mt.

Dongying is Sinopec’s second largest dedicated low-sulphur bunker fuel production site in China, with an annual output of 2 million mt of marine fuel oil and sufficient supply. 

Carrying out marine fuel oil refuelling business in Dongying Port can save about CNY 15-20 /mt in transportation costs compared to carrying out bunkering in Longkou, Qingdao and other places. 

On the basis of the annual refuelling volume of 1 million tonnes, the transportation cost alone can save CNY 15 million to 20 million.

Disclaimer: The above article published by Manifold Times was sourced from China’s domestic market through a local correspondent. While considerable efforts have been taken to verify its accuracy through a professional translator and processed from sources believed to be reliable, no warranty is made regarding the accuracy, completeness and reliability of any information.

Photo credit: Dongying Port Economic Develop Area 
Published: 6 August, 2024