Business

China targets 16.2 million mt fuel oil imports by non-state-owned enterprises in 2022

Firms interested in applying for quota should have domestic bank credit lines of not less than USD 20 million or RMB 120 million with access to storage facilities.

Published

4 years ago

December 28, 2021

Admin

The following article first published by Manifold Times on 28 December 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 Ministry of Commerce of the People’s Republic of China (MOFCOM) on 23 December issued the 2022 Refined Oil (Fuel oil) Non-state trade import allowance application conditions, distribution principles and related procedures document.

The import of fuel oil is subject to state-owned trade management, states MOFCOM.

However, certain provisions between China and the World Trade Organization allow for a fixed amount of trade imports by non-state-owned entities.

As such, these non-state-owned enterprises are allowed to operate within the scope of the annual import allowance.

The allowable amount of fuel oil imports for non-state trade in 2022 is 16.2 million tons.

Non-state-owned enterprises interested in applying for a permit to import an allowable quantity of fuel oil for non-state trade should meet the following requirements:

Obtain import and export business qualifications with independent legal representation;
Have ownership or access to unloading facilities such as fuel oil import terminals or special railway lines (only applicable for border land transportation enterprises) with no less than 10,000 tons;
Ownership or right to use fuel oil storage tanks or oil depots with a storage capacity of not less than 50,000 cubic meters;
Domestic bank credit lines of not less than USD 20 million or RMB 120 million;
No violation of national laws and regulations in the past two years;
Other factors that need to be considered.

Photo credit: Zachary Keimig on Unsplash
Published: 28 December, 2021

Business

Singapore: Notice of intended dividend issued for Parakou Shipping Pte Ltd

Creditors of the company will have to submit proof of debt to the liquidators of Parakou Shipping by 17 June, according to Government Gazette notice.

Published

16 hours ago

June 5, 2026

Admin

A notice to declare the intended dividend of Parakou Shipping Pte Ltd to its creditors has been posted on the Government Gazette on Wednesday (3 June).

The following are the details of the notice of intended dividend:

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)
Address of Registered Office : c/o KordaMentha, 50 Raffles Place, 25-01 Singapore Land Tower, Singapore 048623
Last Day of Receiving Proofs (if not already lodged): 17 June 2026
Name of Liquidator : Cameron Duncan
Address : c/o KordaMentha Pte Ltd, 50 Raffles Place, #25-01 Singapore Land Tower, Singapore 048623

Photo credit: steve pb from Pixabay
Published: 5 June, 2026

LNG Bunkering

Chinese firms form pact for 20,000 cbm LNG bunkering vessel project

CM Energy Tech, Seacon Shipping Group and China Merchants Heavy Industry (Jiangsu) signed a joint venture agreement for 1+1 20,000 cubic meter LNG bunkering vessels.

Published

16 hours ago

June 5, 2026

Admin

CM Energy Tech Co Ltd, Seacon Shipping Group Holdings Limited and China Merchants Heavy Industry (Jiangsu) Co Ltd on Tuesday (26 May) signed a joint venture agreement for the construction of 1+1 20,000 cubic meter liquefied natural gas (LNG) bunkering vessels.

The parties also signed a shipbuilding contract for the first vessel, which will be constructed by China Merchants Heavy Industry.

The project combines CM Energy Tech’s access to the China Merchants Group ecosystem, Seacon Shipping Group’s expertise in ship management and operations, and China Merchants Heavy Industry’s shipbuilding capabilities. The partners said the initiative is intended to address the shortage of large-capacity LNG bunkering vessels in the Chinese market.

The newbuild LNG bunkering vessel will feature dual C-type independent cargo tanks and is designed with a boil-off rate of just 0.16% per day. It will also be capable of delivering LNG at a bunkering rate of up to 2,000 cbm per hour, enabling efficient refuelling of large LNG-fuelled vessels.

The vessel will be powered by Wärtsilä dual-fuel engines and will comply with IMO Tier III emissions requirements. The first vessel is scheduled for delivery in 2028.

The three companies said they plan to further expand cooperation across the LNG value chain, strengthen their presence in the marine energy sector and provide customers with integrated LNG bunkering services focused on safety, operational efficiency and lower carbon emissions.

Photo credit: David Yu from Pixabay
Published: 5 June, 2026

Methanol

India’s Agastya inks green methanol offtake agreement with SAR Group

Agastya Green Fuels and SAR Group will work together to enable green methanol storage, bunkering, and marine fuel infrastructure across Sri Lanka.

Published

17 hours ago

June 5, 2026

Admin

India’s clean energy conglomerate Agastya Group on Wednesday (3 June) said Agastya Green Fuels signed a long-term green methanol offtake agreement with Sri Lankan bunker supplier SAR Maritime Agencies, a SAR Group company, for the supply of 250,000 metric tonnes (mt) per annum of EU RFNBO RED III Compliant green methanol.

Agastya said the agreement establishes one of the largest green methanol supply partnerships in the Indian Ocean Region and marked a major step toward creating a new green maritime energy corridor connecting India and Sri Lanka.

The green methanol will be supplied from the Agastya Green Fuels Hub at Mulapeta Port, Andhra Pradesh, India, where Agastya is developing a green methanol export-oriented facility with a planned investment of USD 6 billion over the next six years. The facility is expected to produce 1 million mt per annum.

“Through this partnership, Agastya Green Fuels and SAR Group will work together to enable green methanol storage, bunkering, and marine fuel infrastructure across Sri Lanka, positioning Colombo, Hambantota, and Trincomalee as future clean-fuel hubs for global shipping,” the company said in a social media post.

“The Indian Ocean is emerging as the world’s next green fuel corridor. Agastya Green Fuels intends to be at its center,” said Shashi K Reddy Arjula, Founder and Group CEO of Agastya.

Photo credit: CHUTTERSNAP on Unsplash
Published: 5 June, 2026