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COSCO plans for bonded LSFO supply base at Zhoushan

31 Jul 2018

Representatives of China Ocean Shipping Group Co., Ltd. (COSCO) and Zhejiang Pilot Free Trade Zone arranged a meeting on 24 July 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, according to Chinese media Eworldship.

Huang Xiaowen, the Deputy General Manager of COSCO, said the shipping firm needs to find a source of LSFO due to the upcoming International Maritime Organization (IMO) 2020 sulphur limit regulation.

He noted resources at the Zhejiang Pilot Free Trade Zone, particularly its business friendly policies, close proximity to maritime trade routes, and availability of anchorage, qualifying the facility to be a developed into a full-fledged bunkering centre comparable to Singapore.

Ma Guohua, Deputy Director of the Management Committee of the Zhejiang Pilot Free Trade Zone, says the organisation will take measures to promote the production capacity of LSFO in the region and welcomes the COSCO Shipping Group to particulate in the bunkering project.

Moving forward, both entities will start a special working group to conduct research and policy reviews for the joint establishment of a future bonded fuel oil bunkering firm at Zhoushan.

Photo credit: COSCO Shipping Lines
Published: 31 July, 2018

 

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