A total of 10 companies have been awarded licences to supply bonded bunker fuel in China from January to September 2022, according to domestic site Oilchem.
According to data from Shandong-based Longzhong Information Group, there are a total of 30 domestic companies to date that have met the qualifications to supply bonded fuel oil to ships on international voyages.
From the total, five received national licences (only four are in operation this year), 13 received Zhejiang Free Trade Zone regional licences, four for Shenzhen regional licences, four for Guangzhou regional licences, and two for Hainan area licences, and another two for Shanghai licences.
Among the 30 companies, there are 26 companies conducting bonded bunker fuel supply operations in 2022, consisting of four who hold national licences and 22 who obtained regional local licences.
From the newly added licence companies to date in 2022, most of them are CNPC, Sinopec or local port joint ventures. This also reflects that companies in the market would need to have advantages in resources or port terminals in order to gain a foothold in the bonded bunker fuel market, according to Longzhong.
The group also elaborated the market for China’s bonded ship fuel supply is expected to further improve with the increase of enterprises gaining their licences from the local authorities and aggressive market competition in various regions.
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.
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Photo credit: Manifold Times / Oilchem
Published: 21 October, 2022
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