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China: Zhoushan records 3.59 million mt of bunker sales in 2018

28 Mar 2019

The port of Zhoushan in China’s eastern Zhejiang Province recorded 3.59 million metric tonnes (mt) of bunker sales in 2018, according to the China Securities Journal.

The report forecast Zhoushan’s bunker volume to surpass 4 million mt this year.

It quoted a government official noting Zhoushan making up more than 30% of China’s total bonded bunker fuel volume.

Xu Yan, an official with the management committee of the Zhoushan Port Comprehensive Bonded Zone, was earlier quoted by CGTN stating Zhoushan selling a total of 2.4 million mt of bonded marine fuel during 2017, a figure 30% up on year.

In July 2018, Manifold Times reported representatives of China Ocean Shipping Group Co., Ltd. (COSCO) and Zhejiang Pilot Free Trade Zone arranging to discuss the feasibility of securing a supply of bonded low sulphur fuel oil (LSFO) through the development of a bunkering centre at Zhoushan port.

The same month also saw the Shanghai Futures Exchange listing and trading newly launchedbonded 380 fuel oil futures contracts.

Research and consultancy firm Wood Mackenzie believes demand for marine gas oil (MGO) at China will increase by about 5 million mt by 2020 due to the International Maritime Organization (IMO) sulphur cap.

Related: Zhoushan aims to be northeast Asia’s bunkering hub
RelatedCOSCO plans for bonded LSFO supply base at Zhoushan
RelatedShanghai Futures Exchange launches RMG 380 bonded contracts
RelatedQingdao Port and PetroChina form JV oil storage firm
RelatedWood Mackenzie: China MGO demand to rise 5 million mt by 2020
RelatedChina: Ministry of Transport outlines draft LNG bunkering strategy

Published: 28 March, 2019

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