China’s state council on Tuesday (31 March) announced it would grant export quotas for refined oil products to non-state refineries within the Zhejiang free trade zone, according to Reuters.
In addition, the state council also said in an official communication it would contemplate increasing export rebates for very low sulphur fuel oil (VLSFO) exports and allow companies to carry out bonded oil blending within the free trade zone.
According to Reuters, the council previously awarded three batches of refined oil product exports quotas, but only to state-backed oil firms.
State-owned Petrochina, Sinopec, CNOOC, refineries have already managed to export VLSFO through the Zhoushan port in Zhejiang free trade zone through the quota and export rebate.
However, it has been noted that the council did not devulge any details in the statement on the permitted volume or time frame on granting quotas to private refineries.
Photo credit: Manifold Times
Published: 1 April, 2020
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.
3,490 mt of LSFO from Itochu Enex was lifted at Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.