China: Shenzhen Port Zhoushan Energy Base launches bonded fuel oil bunkering operations

China (Zhejiang) Pilot Free Trade Zone (Zhejiang FTZ) on Wednesday (16 April) said the Shenzhen Port Zhoushan Energy Base has officially launched its bonded fuel oil bunkering operation, contributing to the development of a bulk commodity hub within the zone.

Tanker Chao Yang 901 recently berthed off the base and unloaded the base’s first 8,400 metric tonnes (mt) of bonded fuel oil, which was put into storage for the base to begin its bunkering operations. 

As a key oil product industry chain construction project in Zhoushan, Shenzhen Port Zhoushan Energy Base is located in Waidiao Island, Cengang Street, Dinghai District, with a total investment of more than RMB 6 billion.

The base has a tank storage capacity of 3.1 million cubic meters , and is equipped with 13 oil berths ranging from 1,000 mt to 300,000 mt, with an annual designed throughput of up to 34.48 million tonnes. 

At present, the base has the bonded qualifications for crude oil and marine fuel oil. Zhejiang FTZ said it is planning to submit an application to Shanghai Futures Exchange for the base to become a crude oil and fuel oil futures delivery warehouse.

In the first quarter of this year, the base completed the loading and unloading of about 200 shipments of domestic oil products, achieving a throughput of about 120,000 mt. With the development of bonded business, the base will further enhance the level of trade facilitation and provide more efficient energy logistics services.

“The base will also actively respond to the national green energy development strategy, promote biofuel oil storage and blending business, and help the development of a low-carbon and environmentally friendly energy industry,” it said. 

Photo credit: China (Zhejiang) Pilot Free Trade Zone
Published: 23 April, 2025