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China: Sinopec launches bonded bunkering business at Hainan Free Trade Port

05 Apr 2022

The following article published by Manifold Times on 5 April 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:

Sinopec Fuel Oil (Hainan) Co., Ltd. officially launched its bonded bunkering business at Hainan Free Trade Port on Thursday (30 March) after loading its first bunker cargo from the Sinopec (Hong Kong) Oil Terminal onto the bunker tanker Yanshun 17, according to Hainan Daily.

In December 2021, the People’s Government of Hainan Province published the “Interim Measures for the Management and Administration of Bonded Oil for Ships in Hainan Free Trade Port”.

The development was meant to further accelerate the development of Hainan Free Trade Port’s bonded oil business by standardising operating behaviour and issuing regulatory responsibilities.

Following, Sinopec Fuel Oil (Hainan) Co., Ltd. obtained the first bonded marine fuel oil operation license of Hainan Free Trade Port from the Hainan Provincial Department of Commerce on 31 December 2021.

Notably, Sinopec Fuel Oil (Hainan) Co., Ltd.’s license to supply bonded bunker fuel at Hainan Free Trade is tagged to the company supporting the construction of the Yangpu Bonded Oil Supply Center.

Hainan Free Trade has meanwhile approved Sinopec China Shipping (Yangpu) Marine Fuel Supply Co., Ltd. during March 2022 as the second company to obtain a license for local bonded oil operation from the facility.

Related: China: Hainan bunkering volume up 113% on year to 217,500 mt during 2021
Related: China: Hainan island to implement 0.1% sulphur limit ECA from January 1, 2022
Related: China: Govt launches bonded bunkering guidelines for Hainan Free Trade Port
Related: Hainan to promote ship registry and bunkering to advance Free Trade Port Masterplan
Related: China: Sinopec Hainan escalates LSFO production to achieve economies of scale
Related: Sinopec Hainan Company readies LSFO bunker cargo for export

 

Photo credit: Hainan Radio and TV Station
Published: 5 April, 2022

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