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China: Bonded bunker sales at Tianjin Port up 68% on year to 2 million mt during 2021

14 Jan 2022

The following article published by Manifold Times on 14 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:

The supply of bonded marine fuel oil at Tianjin Port in 2021 reached 2.0479 million metric tonnes (mt), an increase of 68.22% on year, according to Tianjin Customs data seen by Bincheng Times.

Tianjin Port’s bonded marine fuel oil supply rose from 194,400 mt in 2018 to 2.0479 million mt in 2021, representing an increase of more than 10 times, according to customs staff.

In recent years, Tianjin Xingang Customs focused on the development needs of bonded fuel oil companies by continuing to promote regulatory innovations while improving trade facilitation.

For example, it has trained “one-to-one” enterprise service specialists to conduct customs supervision policy presentations, and to answer enterprise questions in a timely manner.

These specialists are responsible for optimising the administrative approval process and organising “one-time notification” services to increase enterprise level efficiency.

Tianjin Customs has also implemented a marine fuel oil export tax rebate policy, amongst other initiatives, to reduce the cost of bunkering operations across regional ports.

The developments have given rise to more bonded bunkering players operating within the region.

“The system innovation of the customs has promoted the facilitation of bonded fuel oil trade, and it has also become the driving force for us to continuously improve our competitiveness and explore the international market,” said Li Haibin, general manager of Tianjin China Gas Marine Fuel Co., Ltd.

 

Photo credit: Chikai Du from Pixabay
Published: 14 January, 2022

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