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China: Guangzhou issues bonded bunkering business licences to two local players

01 Mar 2022

Editor’s Note [12 April 2022]: Article updated to reflect the correct English company name of 广州元亨仓储有限公司, which is Guangzhou Circle Storage Co., Ltd.

The following article published by Manifold Times on 1 March 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:

Two local players, namely Guangzhou Development Bibi Youpin Co., Ltd. (广州发展碧辟油品有限公司) and Guangzhou Circle Storage Co., Ltd. Guangzhou Yuanheng Storage Co., Ltd. (广州元亨仓储有限公司), have reportedly obtained bonded bunkering business licences from the Guangzhou Municipal Government.

The recent development builds on the “Interim Measures for the Administration of Bonded Bunkering of International Voyage Vessels in Guangzhou” which was approved by local authorities in February this year.

The interim measures, introduced to enhance international trade at Guangzhou, allows local oil companies to obtain bonded bunkering business licences directly from the local government; instead of from the Chinese State Council.

According to statistics, the container throughput of Guangzhou Port was 23.03 million TEUs in 2021, while the annual supply of bonded marine fuel at Guangzhou port was about 500,000 mt in the similar year.

Oil storage and distribution operations at Guangdong province is currently supported the Nansha Xiaohu Island Petrochemical Zone. The area has 310 storage tanks with a total storage capacity of more than 3,174,300 cubic meters and 46 berths.

The Nansha area of ​​Guangzhou Port is located in the centre of the Greater Bay Area. It can reach Zhongshan, Zhuhai, Jiangmen, Foshan and Dongguan within an hour, and can cover more than 80% of the province’s ship refuelling market within five hours.

Related: China: Guangzhou approves “Interim Measures” for more bonded bunkering firms
RelatedChina: Guangzhou bunkering volumes up 183% YTD on policy improvements
RelatedEmergence of China’s marine fuels industry challenges Singapore’s dominant position
RelatedShenzhen plans acceleration of domestic and international LNG bunkering business
RelatedChinese government issues bonded bunkering permission at Guangzhou port

 

Photo credit: Manifold Times
Published: 1 March, 2022

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