The following article published by Manifold Times on 13 January was sourced from China’s domestic market through a local correspondent. An online translation service was used in the production of the current editorial piece:
Data released by main bunkering firms operating at Shanghai on Wednesday (12 January) showed total bunker fuel sales of 3.5 million metric tonnes (mt) at the port during 2021, according to China News Service.
In 2021, the container throughput of Shanghai Port exceeded 47 million TEUs allowing the facility to maintain its position as the number one container port in the world for 12 consecutive years.
However, but there is still much room for improvement with service related activities to international ships. It is noted Shanghai port’s bunker sales in 2019 stood at more than 2 million mt.
As such, Hongkou Customs, the main bonded bunkering unit under Shanghai Customs, has responded to the needs of the industry by introducing a ship-supply fuel oil warehouse to support the bonded bunkering sector.
The facility is able to function as an export supervision warehouse and a bonded warehouse at the same time. Tax from fuel oil will be refunded upon entering the export supervision warehouse to become “bonded oil”.
The implementation of the export tax rebate for fuel oil injection for ships on international voyages” policy has increased the availability of bonded bunker fuel to ships, according to Shi Gang, Head of the Bonded and Exemption Supervision Section at Hongkou Customs.
For Chinese refineries, the development also enriches the structure of finished products, increases sales channels and revenue, and is conducive to improving the market competitiveness of China’s bonded fuel oil market.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.
Poll shows market participants think Singapore’s future as a bunkering hub in the near term will be impacted most by growth in alternative bunker fuels and intensifying competition from other ports in Asia.
‘We will now take the necessary time to consider and evaluate the verdict and the premises of the verdict thoroughly before making any decision of whether to appeal to a higher court,’ informs company.